Quantum Genomics Enters into Exclusive Licensing and Collaboration Agreement with Faran
Quantum Genomics to receive up to $12.1 million in upfront and milestone payments plus double-digit royalties on sales
Faran to receive an exclusive license to develop and commercialize firibastat for the treatment of difficult to treat/resistant hypertension in Greece
PARIS and NEW YORK, Dec. 15, 2020 (GLOBE NEWSWIRE) -- Quantum Genomics (Euronext Growth - FR0011648971 - ALQGC), a biopharmaceutical company specializing in developing a new drug class that directly targets the brain to treat difficult to treat/resistant hypertension today announced it has entered into an exclusive licensing and collaboration agreement with Faran to develop and commercialize firibastat in Greece. This new agreement is the first step of Quantum Genomics’ partnering strategy in Europe.
Under the terms of the agreement, Faran will receive exclusive commercialization rights to firibastat for the treatment of difficult to treat/resistant hypertension in Greece. Additionally, Faran may join the global study of difficult to treat/resistant hypertension in Greece.
Quantum Genomics will receive upfront and milestone payments amounting up to $12.1 million, plus double-digit royalties on sales.
Over 20% of the adult general population in Greece suffers of Hypertension. Resistant hypertension is a common disorder with an estimated prevalence of more than 10% in the general hypertensive population.
“Faran who was established 70 years ago is one of the leading player in Greece. Having many long lasting partnerships with global pharmaceutical companies, Faran is focusing on eight innovative products and through an extended partnership with five more original products at Cardiology segment. We had intensive discussions with well experienced people and we are excited to partner firibastat with Faran in Greece," mentionned Jean-Philippe Milon, Chief Executive Officer of Quantum Genomics.
"Faran is investing and focusing on Cardiology, with a clear vision to become local market leader. We are very enthusiastic to establish a partnership with Quantum Genomics," mentionned Mr Mario Katsikas, President & CEO of FARAN S.A..
About Faran
Faran is a Greek pharmaceutical company that aims to offer renowned High Quality therapeutic products, with High Therapeutic Value, Modern Pharmaceutical Technology and Documented Safety. To achieve this goal our horizons expanded daily with selected international partnerships and the trust of medical community by providing therapeutic solutions in a wide range of diseases in the area of Cardiology, Oncology, Haematology, Nephrology, Orthopaedics, Rheumatology, Endocrinology, International Medicine and Gynecology.
The people of Faran have in-depth knowledge of all the needs and specificities of the Greek Pharmaceutical Market and interested in health issues those concern citizens, healthcare professionals and insurance funds. They are qualitative and modern, direct and flexible.
About Quantum Genomics
Quantum Genomics is a biopharmaceutical company specializing in the development of a new class of cardiovascular medications based on brain aminopeptidase A inhibition (BAPAI). Quantum Genomics is the only company in the world exploring this innovative approach that directly targets the brain. The company relies on 20 years of academic research from the Paris-Descartes University and the laboratory directed by Dr. Catherine Llorens-Cortes at the Collège de France (French National Institute of Health and Medical Research (INSERM)/ the Scientific Centre for National Research (CNRS)). The goal of Quantum Genomics is to develop innovative treatments for complicated, or even resistant, cases of hypertension (around 30% of patients have poor control of their condition or receive ineffective treatment) and for heart failure (one in two patients diagnosed with severe heart failure dies within five years).
Based in Paris and New York, Quantum Genomics is listed on the Euronext Growth exchange in Paris (FR0011648971- ALQGC) and trades on the OTCQX Best Market in the United States (symbol: QNNTF).
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Contact information
| Quantum Genomics | |
| Jean-Philippe Milon | Benoît Gueugnon |
| CEO | CFO |
| So Bang (Europe) | |
| Nathalie Boumendil | Samuel Beaupain |
| Financial Communications | Media Relations and Scientific Communications |
| +33 (0)6 85 82 41 95 | | +33 (0)6 88 48 48 02 | |
| LifeSci (USA) | |
| Dan Ferry | Mike Tattory |
| Financial Communications | Media Relations and Scientific Communications |
| +1 (617) 430-7576 | | +1 (609) 802-6265 | |
