Montreux, Switzerland | June 4, 2021 – MedXCell SA, a Swiss biotech company dedicated to transforming healthcare through the development and production of affordable and accessible new therapies utilizing the unique powers of living cells, has successfully closed a CHF 5.3M Series A.
This Series A round was led by Dr Anh Nguyen, accompanied by other private investors. Dr Nguyen is a biotech veteran. He holds a PhD in molecular biology from the University of California in San Diego and an MBA from MIT Sloan Business School. He co-founded several biotech start-ups among which, Invitrogen was listed on NASDAQ in 1999 before being acquired by Thermo Fisher in 2013 for $16 billion. In 2002, he co-founded Medincell (EPA: MEDCL) with the ambition to become a global leader in the pharmaceutical industry with long-acting injections. In addition to significant financial participation, Dr Anh Nguyen will bring to MedXCell his scientific and regulatory expertise to facilitate the development of its products.
The new funding will accelerate and progress pre-clinical and clinical development of MedXCell’s pipeline of products. The proceeds provide MedXCell with additional resources to fund ADIPOA, MedXCell’s lead product for the treatment of knee osteoarthritis currently in Phase 2 clinical trials, support the pre-clinical work using eNKab platform for oncology indications, and for general corporate purposes.
The Series A round follows a previous seed funding of CHF 1.5M raised in 2018. Lionel Brodard, CFO of MedXCell SA said: “It is a privilege to welcome new private investors to share our adventure. This investment recognizes the value of our technologies, the potential of our products and the quality of our team.”
Dr Anh Nguyen added: “I’m delighted to join MedXCell’s adventure and I’m convinced that cell therapy will be the future of medicine. MedXCell’s technologies have the potential to fulfil true unmet medical needs.”
MedXCell SA is a Swiss specialist healthcare group of entities with clinical-stage projects whose mission is to harness the power of cellular therapies to make lives better. It is dedicated to developing and manufacturing innovative off-the-shelf cellular therapies offering state-of-the-art, cost-effective and safe solutions for a wide range of patient needs. The company enjoys a close relationship with academic research, most notably with the Institute for Regenerative Medicine and Biotherapy from the French University Hospital of Montpellier (CHU Montpellier), France. The MedXCell Group has a workforce currently numbering 25 employees.
For business inquiries, please contact:
Lionel Brodard, CFO
+41 21 963 06 53