Medincell strengthens board with biopharma veteran Pascal Touchon

MONTPELLIER, France - Medincell (Paris:MEDCL), a biopharmaceutical licensing company with a market capitalization of $506 million, has announced the appointment of Pascal Touchon to its Board of Directors. Touchon, with four decades of experience in the biopharmaceutical industry, brings a wealth of knowledge from his time at Novartis Oncology and his current roles at Atara Biotherapeutics and Ipsen. The company’s stock has shown remarkable strength, delivering a 60% return over the past year, according to InvestingPro data.

The addition of Touchon is part of Medincell’s ongoing effort to enhance the board’s expertise to support the company’s accelerated growth. His previous role as Global Head of Strategy and Business Development at Novartis Oncology, where he spearheaded the development and global launch of the first approved cell & gene therapy, positions him as a strategic asset for Medincell.

Philippe Guy, Chairman of Medincell, expressed confidence that Touchon’s international experience would be invaluable in driving innovation and fostering strategic partnerships. Touchon himself commented on his appointment, emphasizing his belief in Medincell’s potential and his ambition to create value for both patients and shareholders.

Touchon’s tenure as a board member will extend until the next Annual General Meeting, where shareholders will vote on his continued appointment.

The company also acknowledged the departure of Sabri Markabi from the board, thanking him for his significant contributions during a pivotal period. Markabi will transition to an advisory role, continuing to offer his expertise to Medincell.

Medincell’s board now comprises Philippe Guy as Chairman, Christophe Douat as CEO, and directors Tone Kvåle, Virginie Lleu, Elisabeth Kogan, and Pascal Touchon, with Sabri Markabi serving as a non-voting Board Observer.

The announcement comes after Medincell’s recent commercial success with the FDA approval in April 2023 of UZEDY®, a schizophrenia treatment based on the company’s proprietary BEPO® technology, now distributed in the U.S. by Teva Pharmaceuticals. While the company currently operates at a loss with an EBITDA of -$21 million, InvestingPro analysis shows analysts are highly optimistic about its prospects, with a strong buy consensus and significant upside potential from current levels. InvestingPro subscribers have access to 7 additional key insights about Medincell’s growth trajectory and financial health.

Medincell is known for developing long-acting injectable drugs across various therapeutic areas, aiming to improve medication compliance, effectiveness, and accessibility while reducing environmental impact. The company employs over 140 people and collaborates with leading pharmaceutical entities to advance global health. Operating with a moderate debt level and maintaining a healthy current ratio of 1.46, Medincell appears well-positioned to continue its development programs. For detailed financial metrics and comprehensive analysis, visit InvestingPro, where subscribers can access exclusive insights and real-time valuations.

This governance update is based on a press release statement from Medincell.

In other recent news, Teva Pharmaceuticals and Medincell announced that the U.S. Food and Drug Administration (FDA) has accepted the supplemental New Drug Application (sNDA) for UZEDY. This long-acting injectable suspension is proposed for the maintenance treatment of bipolar I disorder in adults. UZEDY is already approved in the U.S. for the treatment of schizophrenia in adults, administered every one or two months. The sNDA is based on existing clinical data for UZEDY and previous FDA findings regarding risperidone formulations for bipolar I disorder treatment. Teva will lead the regulatory process and handle potential commercialization, while Medincell will receive royalties on net sales. Dr. Richard Malamut of Medincell emphasized the importance of long-acting injectables in treating central nervous system disorders, noting that nonadherence is a significant barrier to effective care. Despite the acceptance of the sNDA, the safety and efficacy of UZEDY for bipolar I disorder have not yet been established, and it is not approved for this indication by any regulatory authority.

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