(Boursier.com) — The new loan signed between the European Investment Bank (EIB), supported by the Investment Plan for Europe, and the pharmaceutical company MedinCell is intended to support the development of the company’s portfolio of innovative treatments. This is already composed of several products at the preclinical and clinical stage. A first long-acting injectable treatment using MedinCell’s technology is expected to hit the US market in the first half of 2023.
Thanks to this new EIB loan which follows a first financing of 20 million euros in 2018, also supported by the Investment Plan for Europe, MedinCell will continue its mission and respond to the main challenges of health in the world through treatments. MedinCell’s long-acting injectable technology, BEPO, can be used to develop new care options in many therapeutic areas such as schizophrenia, contraception, malaria, pain management, and more.
BEPO(R) makes it possible to control and guarantee the administration at an optimal therapeutic dose of a treatment for several days, weeks or months via a simple injection which creates a completely bioresorbable deposit. BEPO is designed to potentially provide more effective treatments, improve patient compliance, make treatments more accessible and reduce their environmental footprint.
Christophe Douat, Chairman of the Executive Board of MedinCell, said: “This new EIB loan gives MedinCell the means to continue to innovate and develop long-acting treatments in many therapeutic areas that have the potential to change the game for patients and We are proud to once again collaborate with the EIB, a strategic partner that supports our humanistic pharma business model and our mission to improve the health of patients worldwide.”
Ambroise Fayolle, Vice-President of the European Investment Bank, adds: “Supporting innovation in the field of health to improve the well-being of patients is a priority for the EIB. This second loan to MedinCell reflects our commitment strong in favor of innovative companies in their sector of activity. As an EU bank, it is important to give them the means to develop technologies which will contribute, in the case of MedinCell, to care for the people who need treatments in many therapeutic areas. This loan will help improve accessibility, care and quality of life for patients in Europe”.
EU Economics Commissioner Paolo Gentiloni commented: “We are committed to improving the quality of life of EU citizens by investing in healthcare innovation. This investment, guaranteed by the Investment Fund for Europe, is proof of this and helps to strengthen Europe’s position at the forefront of research and development.”
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