Quantum Genomics to receive up to $50 million in upfront and milestone payments plus double-digit royalties on sales
Qilu Pharmaceutical to receive an exclusive license to develop and commercialize firibastat for the treatment of difficult to treat/resistant hypertension in Greater China region, including Hong Kong and Macao
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 Qilu Pharmaceutical to develop and commercialize firibastat in Greater China region, Hong Kong and Macao. After its first partnership in Asia, this new agreement is the second step of Quantum Genomics' partnering strategy in Asia.
Under the terms of the agreement, Qilu Pharmaceutical will receive exclusive commercialization rights to firibastat for the treatment of difficult to treat/resistant hypertension in Geater China region including Hong Kong and Macao. Additionally, Qilu Pharmaceutical plans to join the global study of difficult to treat/resistant hypertension in China.
Quantum Genomics will receive upfront and milestone payments amounting up to $50 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 between 25 and 30 million.
“Qilu Pharmaceutical is one of the leading pharmaceutical companies in China with 5 R&D centers across US and China and 10 domestic manufacturing sites. Qilu Pharmaceutical has launched over 200 products in China, is a leading player in the cardiovascular field and has established long-term cooperative relationships with international companies. With a comprehensive sales network and multiple professional in marketing, Qilu Pharmaceutical is a partner of choice and we look forward to working with them,” mentioned Jean-Philippe Milon, Chief Executive Officer of Quantum Genomics.
“Quantum Genomics is the leading biopharmaceutical company specializing in the development of a new drug class based on the central action mechanism of Aminopeptidase A inhibition” said Dr. Binhui (Ben) Ni, Chief Business & Investment Officer, corporate vice president of Qilu Pharmaceutical, “Development of Firibastat, first-in-class for the treatment of high blood pressure and/or in combination with others anti-hypertensive drugs offers alternative treatments to address the significant unmet needs in China. We are confident that the unique mechanism of action with strong clinical data position Firibastat to make a meaningful impact on patients' lives.”
About Qilu Pharmaceutical
Qilu Pharmaceutical is one of the leading pharmaceutical companies in China, with mission of caring through Science and Technology. The company develops, manufactures and commercializes novel pharmaceuticals, biologics, as well as generics and biosimilars. Qilu has 12 subsidiaries, and 10 manufacturing sites with over 23000 employees worldwide and launched over 200 products in China with revenue of over 3.3 bn USD in 2019.
Qilu Pharmaceutical is among the top GMP manufacturers in the world, fully complied with major global regulatory agencies and exports the products including active pharmaceutical ingredients (APIs) & finished formulations over 70 countries.
With commitment to develop innovative medicines for solutions that improve people's lives and meet the unmet medical need in multiple therapeutic areas, Qilu has 2000+ dedicated scientists and comprehensive clinical team that work in its R&D centers across US and China. The company is actively looking for partnership with global players via in-/out-licensing and/or co-development strategy
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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|Jean-Philippe Milon |
|Benoît Gueugnon |
So Bang (Europe)
|Nathalie Boumendil |
+33 (0)6 85 82 41 95 | [email protected]
|Samuel Beaupain |
Media Relations and Scientific Communications
+33 (0)6 88 48 48 02 | [email protected]
|Dan Ferry |
+1 (617) 535-7746 | [email protected]
|Mike Tattory |
Media Relations and Scientific Communications
+1 (609) 802-6265 | [email protected]