Quantum Genomics to receive up to $18.5 million in upfront and milestone payments plus double-digit royalties on sales
DongWha Pharm to receive an exclusive license to develop and commercialize firibastat for the treatment of difficult to treat/resistant hypertension in South Korea
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 DongWha Pharm to develop and commercialize firibastat in the Republic of Korea. After its last partnership in China, this new agreement is the third step of Quantum Genomics' partnering strategy in Asia.
Under the terms of the agreement, DongWha will receive exclusive commercialization rights to firibastat for the treatment of difficult to treat/resistant hypertension in South Korea. Additionally, DongWha will join the global study of difficult to treat/resistant hypertension in South Korea.
Quantum Genomics will receive upfront and milestone payments amounting up to $18.5 million, plus double-digit royalties on sales.
The population suffering from difficult to treat and resistant hypertension in the above territories is estimated to be about one million .
“Located in Seoul, DongWha Pharm is the perfect partner to launch firibastat in South Korea. For 120 years, DongWha Pharm has estblished various infrastructures including R&D, distribution and a strong sales organisation close to Key Opinion Leaders. Since 1970, DongWha Pharm has achieved and maintained long-term partnerships with global pharmaceutical companies among them Leo and Menarini. We are very much looking forward to working with DongWha Pharm on the clinical studies and then on the launch of firibastat,” mentioned Jean-Philippe Milon, Chief Executive Officer of Quantum Genomics.
“We are pleased to sign an exclusive contract for Firibastat of Quantum Genomics. Firibastat is a new class of drug entity that will satisfy the unmet needs of patients with difficult-to-treat/resistant hypertension or heart failure, and we believe that this partnership will increase our market share in the cardiovascular field. In addition, we will continue to expand our pipelines through the open innovation.”, mentioned Ki-Whan Park, President and CEO of DongWha Pharm.”
About DongWha Pharm
Established as the first Korean pharmaceutical company in 1897, DongWha is the most representative pharmaceutical company with high brand power. DongWha is a full-fledge equipped pharmaceutical company with its R&D center, manufacturing facility and nationwide sales and marketing network. DongWha has developed reliable long-term partnerships with global companies such as Leo, Menarini, Pfizer and so on. Under the spirit of the establishment “Serving customers through making good medicines and operating with the resulting revenues”, DongWha has dedicated to developing innovative drugs.
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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