Brief: Medincell Receives $19 Million Grant For Its Mdc-WWM Program

Medincell SA

28/11/2019 16:50

Nov 28 (Reuters) - Medincell SA  MEDCL.PA :
    * MEDINCELL RECEIVES $19 MILLION GRANT FOR ITS MDC-WWM
PROGRAM
    * IT AIMS TO FUND PRECLINICAL ACTIVITIES AND A PHASE 1
CLINICAL
TRIAL FOR THE INJECTABLE SIX-MONTH BIORESORBABLE CONTRACEPTIVE
(MDC-WWM)
    * THE GRANT IS STRUCTURED IN ADVANCED INSTALLMENTS TO COVER
THE
COSTS THAT WILL BE INCURRED BY THE PROJECT
    * DEPENDING ON OPTIONS CHOSEN AND ON ADVANCEMENT OF PROGRAM,
UP TO
$11.75 MILLION COULD BE RAISED OVER NEXT 12 MONTHS INCLUDING A
FIRST TRANCHE OF $4.75 MILLION TO BE PAID IMMEDIATELY.
    * ADDITIONAL $7.25 MILLION MAY BE COLLECTED LATER

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

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