MedinCell has sold a minority stake to CM-CIC Innovation
October 2017 — Some shareholders of MedinCell, a biotechnology company, have sold their 6% stake in the company to CM-CIC Innovation. Financial details have not been disclosed.
Founded in 2002, MedinCell has dedicated 10 years to the development of BEPO™, its patented long-acting injectable (LAI) technology. This innovation will enable to cope with drug non-adherence which is a major public health issue in terms of outcomes and overall costs. The BEPO™ technology provides a controlled release of drug for days, weeks or months from a fully biodegradable in-situ depot that forms after subcutaneous injection or local delivery of the formulated active pharmaceutical ingredient (API). This feature is based on a unique combination of custom proprietary copolymers, solvent and APIs. MedinCell has laid out the foundations of a secured, agile and efficient development that includes partnerships with Novartis and Sandoz, two of the top 10 pharma companies, and with the leading generic pharma corporation. Through a joint-venture with Corbion, the company has secured a larger polymer production.
CM-CIC Innovation is a subsidiary of CM-CIC Investissement, a member of the Crédit Mutuel CM11 group that specializes in venture capital investments. Its aim is to invest in companies that are developing promising technologies. CM-CIC Innovation selects companies with strong growth potential in dynamic sectors like information technology, telecoms, electronics, life sciences, new materials and environmental technology. The firm’s policy is to provide long-term support to innovative startups by investing in their equity, in order to maximize their chances of success.
Our role in the transaction
Oaklins' team in France advised the shareholders of MedinCell in this transaction.
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