Brief: Medincell: FDA Approval Of mdc-IRM

Medincell SA

02/05/2023 07:05

May 2 (Reuters) - Medincell SA  MEDCL.PA :
    * FIRST FDA APPROVAL AND US COMMERCIAL LAUNCH, MEDINCELL
ENTERS
NEW ERA
    * NEW TREATMENT FOR SCHIZOPHRENIA WILL BE AVAILABLE IN U.S.
IN
COMING WEEKS UNDER BRAND NAME UZEDY™
    * MEDINCELL IS ENTITLED TO RECEIVE ROYALTIES ON ALL SALES
AND IS
ELIGIBLE FOR UP TO $105 MILLION IN COMMERCIAL MILESTONES
    * TWO OTHER PRODUCTS BASED ON SAME MEDINCELL'S BEPO®
TECHNOLOGY
ARE CURRENTLY IN PHASE 3 AND SEVERAL OTHERS ARE IN DEVELOPMENT
    * ROYALTIES: THIS APPROVAL TRIGGERS A $4 MILLION PAYMENT
FROM TEVA
TO MEDINCELL AND GIVES ACCESS TO THIRD TRANCHE OF EIB LOAN FOR
AN AMOUNT OF EUR 10 MILLION

Source text for Eikon:  ID:nBw71PzYha 
Further company coverage:  MEDCL.PA 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))