Medincell Enters Into Strategic Co-development and Licensing Agreement with AbbVie to Develop Next-generation Long-acting Injectable Therapies
16 Avril 2024 - 5:45PM
Business Wire
Medincell will receive an upfront payment of $35 million and
is eligible for up to $1.9 billion in potential development and
commercial milestones, plus royalties on worldwide sales.
Medincell and AbbVie will co-develop, and AbbVie will
commercialize up to six cutting-edge long-acting injectables
(LAI).
The first LAI program candidate has been selected and
formulation activities are underway.
This pivotal alliance leverages Medincell's commercial-stage
LAI technology and development know-how, and AbbVie's extensive
clinical development and commercialization expertise, to deliver
innovative therapeutic solutions to patients globally.
Medincell (Paris:MEDCL) today announced a collaboration with
AbbVie to co-develop and commercialize up to six therapeutic
products across multiple therapeutic areas and indications.
Medincell will use its commercial-stage long-acting injectable
technology platform to formulate innovative therapies. Medincell
will conduct formulation activities and preclinical studies,
including supportive CMC work to advance candidates into clinical
trials. AbbVie will finance and conduct the clinical development
for each program and will be responsible for regulatory approval,
manufacturing, and commercialization.
Christophe Douat, Medincell’s CEO said: “This will be an
exciting partnership with one of the most innovative and successful
pharmaceutical companies. Medincell has entered a new period of
growth following the FDA approval of the first product using our
technology in April 2023. The full potential of long-acting
injectable therapies is getting increasingly recognized.”
Sébastien Enault, Medincell’s Chief Business Officer added: “Our
business development is accelerating following FDA approval of our
first product. Our technology can help harvest the full potential
of many known or yet untapped drugs. We are ready to make this
exciting partnership very successful.”
Under the terms of the co-development and licensing agreement
covering up to 6 programs, Medincell will receive a $35 million
upfront payment and is eligible to receive up to $1.9 billion in
development and commercial milestones ($315 million for each
program). Medincell is also eligible to receive mid-single to
low-double-digit royalties on net sales.
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.
UZED® and SteadyTeq™ are trademarks of Teva Pharmaceuticals
www.medincell.com
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version on businesswire.com: https://www.businesswire.com/news/home/20240415101781/en/
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 & IR
grace.kim@medincell.com / +1 (646) 991-4023
Nicolas Mérigeau Media Relations medincell@newcap.eu /
+33 (0)1 44 71 94 94
Louis-Victor Delouvrier/Alban Dufumier Investor Relations
France medincell@newcap.eu / +33 (0)1 44 71 94 94
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