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PRESS RELEASE - June 28, 2024 - 7:30 am CEST - Montpellier, France - Euronext: MEDCL

H.C. Wainwright & Co. Initiates MedinCell’s Coverage with a “Buy” Recommendation

H.C. Wainwright & Co.’s research department, one of the leading players in the U.S. Healthcare sector, has initiated coverage of Medincell

H.C. Wainwright & Co. equity research team led by Raghuram Selvaraju, Ph.D., initiated coverage with a “Buy” rating and price target of €24, a +80% potential increase from yesterday’s stock price at market close

Christophe Douat, CEO of MedinCell, said: “The initiation of coverage by HC Wainwright's equity research team and their recommendation represent a significant validation of our company's potential. It underscores the growing interest in Medincell within the U.S. biopharmaceutical sector and strengthens our strategic objective to enhance our visibility among American investors.”

The initiation of coverage by HC Wainwright & Co. occurs as MedinCell has recently reached significant milestones, notably:

•       US FDA approval and succesfull market launch by Teva of UZEDY^® for maintenance treatment of schizophgrenia in May

2023. UZEDY^® is the first royalty-generating product based on MedinCell’s long-acting injectable (LAI) technology approved; 

•       Positive Phase 3 efficacy results evaluating mdc-TJK, a second antipsychotic LAI developed with Teva, announced in May 2024. Mdc-TJK aims to be the first long-acting injectable of olanzapine with a favorable safety profile that could enable a large adoption for treatment of patients with more severe forms of schizophrenia. The comprehensive Phase 3 safety data package is expected in H2 2024;

•       Start of a collaboration with AbbVie to co-develop and commercialize up to six therapeutic products across multiple

therapeutic areas and indications announced in April 2024. 

H.C. Wainwright & Co. is one of the U.S. oldest and most trusted financial institutions.www.hcwco.com 

About Medincell 

Medincell is a clinical- and commercial-stage biopharmaceutical licensing company developing long-acting injectable drugs in many therapeutic areas. Our innovative treatments aim to guarantee compliance with medical prescriptions, to improve the effectiveness and accessibility of medicines, and to reduce their environmental footprint. They combine active pharmaceutical ingredients with our proprietary BEPO^® technology which controls the delivery of a drug at a therapeutic level for several days, weeks or months from the subcutaneous or local injection of a simple deposit of a few millimeters, entirely bioresorbable. The first treatment based on BEPO^® technology, intended for the treatment of schizophrenia, was approved by the FDA in April 2023, and is now distributed in the United States by Teva under the name UZEDY^® (BEPO^® technology is licensed to Teva under the name SteadyTeq™). We collaborate with leading pharmaceutical companies and foundations to improve global health through new treatment options. Based in Montpellier, Medincell currently employs more than 140 people representing more than 25 different nationalities. 

UZEDY^® and SteadyTeq™ are registered trademarks of Teva Pharmaceuticals. www.medincell.com

Contact

David Heuzé - Head of Corporate and Financial Communications, and ESG david.heuze@medincell.com / +33 (0)6 83 25 21 86

Grace Kim - Head of US Financial Strategy and IR grace.kim@medincell.com / +1 (646) 991-4023

Investors Relations France

Louis-Victor Delouvrier/Alban Dufumier 

medincell@newcap.eu / +33 (0)1 44 71 94 94

Media Relations Nicolas Mérigeau medincell@newcap.eu / +33 (0)1 44 71 94 94

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This press release may contain forward-looking statements, particularly concerning the progress of the Company's clinical trials. Although the Company considers that its forecasts are based on reasonable assumptions, any statements other than statements of historical fact that may be contained in this press release relating to future events are subject to change without notice, to factors beyond the Company's control and to the Company's financial capabilities.

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