Medincell has been granted $3 million by the Gates Foundation for its mdc-STM project, an injectable formulation of ivermectin. This grant will support initial human clinical trials to assess the safety and pharmacokinetics of this subcutaneous solution. According to Medincell, the injectable formulation could enhance the reduction of malaria transmission compared to oral administration.
Potential Overcoming of Logistical Challenges
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Medincell states that recent advancements, supported by a large-scale field study, indicate that oral ivermectin can reduce malaria transmission by 26%. However, logistical challenges limit its overall effectiveness. The mdc-STM, a long-acting injectable formulation, could overcome these barriers, significantly improving the reduction of malaria transmission. This initiative is backed by the Gates Foundation, and Medincell aims for a major breakthrough in the fight against malaria.
Ongoing Commitment to Malaria Eradication
In 2023, malaria affected approximately 263 million people worldwide, with 94% of cases in Africa, resulting in about 597,000 deaths. Medincell is committed to combating this disease through its BEPO technology, which offers prolonged drug release. The collaboration with The Medicines Patent Pool aims to identify partners for the development and distribution of mdc-STM in low- and middle-income countries. The company continues to develop innovative injectable treatments in various medical fields.
We are pleased with the company’s growth and momentum.
Total income €14,1 million; Revenues €11,6 million (+35 %); UZEDY® royalties €4,2 million; Operating result €(6,6) million (improved 13 % year-over-year); Net result €(16 078) thousand; Cash and low-risk financial investments €53,5 million (incl. €49,8 million cash and €3,7 million low-risk investments); Net financial debt €17 629 thousand; NDA for Olanzapine LAI submitted to FDA on December 9, 2025; AbbVie partnership advancing with regulatory package expected in 2026.
Risks mentioned
Foreign exchange risk: weakness of USD vs EUR impacted revenues and generated ~€1 million FX losses
Dependency on partner commercialization (Teva) for UZEDY® royalties and sales forecasts
Regulatory risk: approvals (e.g., Olanzapine LAI) and acceptance for review uncertain
Financial volatility linked to fair value revaluation of EIB BSA warrants (non-cash €6,8 million impact)
Opportunities identified
Olanzapine LAI: NDA submitted and potential launch could be a major growth catalyst
UZEDY®: upward revision of 2025 net sales forecast by Teva (from $160 million to $190-200 million)
AbbVie partnership: first program advancing toward first-in-human trials (regulatory package expected 2026)
Gates Foundation financing: new $3 million envelope to advance mdc-STM malaria program
Expanded geographic approvals (Canada, South Korea) supporting broader commercialization
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