CM-CIC Innovation-backed MedinCell announces IPO price range

The offering will consist of between 4,137,931 and 4,758,620 new shares or up to 5,472,413 offer shares if the extension clause and overallotment option are fully exercised.

Assuming the mid-point in the pricing range is achieved, MedinCell will achieve a market cap of around €130m.

The primary capital element should amount to approximately €34.1m, which may be increased to a maximum of approximately €45.1m.

The closing should take place on 26 September 2018, at 5pm (CEST) for subscriptions placed at counters, and 8pm for online subscriptions. The beginning of trading is expected to be 2 October.

Institutional investors CM-CIC Innovation and BNP Paribas Développement have made subscription commitments of €4.7m and €3m respectively. 

Bryan Garnier & Co and Crédit Agricole Corporate and Investment Bank are acting as joint global coordinators and joint bookrunners.

MedinCell was backed by CM-CIC Innovation in 2017, the GP acquiring a 6% stake in the company. The business was previously wholly owned by its founders and employees.

Founded in 2002, MedinCell is a pharmaceutical company that aims to develop a portfolio of long-acting injectable products in order to target specific indications, including schizophrenia, postoperative pain or contraception.

Located in Montpellier and employing 110 staff, MedinCell has developed BEPO, a long-acting injectable (LAI) technology.

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• Topics
• Exits
• France
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• France
• Credit Mutuel Equity (ex CM-CIC Investissement)
• BNP Paribas Développement
• IPO