Quantum Genomics announces reorganization of its Board of Directors and staff restructuration in order to focus on new projects
Quantum Genomics (Euronext Growth - FR0011648971 - ALQGC), a biopharmaceutical company specialising in the development of a new class of medications that directly target the brain, announces a reorganization of its Board of Directors, a staff restructuration and renews the review of its strategy discussions.
Reorganization of Quantum Genomics' Board of Directors
On February 21, 2023, Quantum Genomics' Board of Directors, formed by Lionel Ségard (President), Jean-Philippe Milon (CEO), François Durvye (CEO of Otium Capital), François Pelen (Independent Administrator) and Carole Wassermann (Independent Administrator), acknowledged the resignation of Frédéric Duchesne from its Independent Administrator's mandate, whose past experiences in the Pharma industry should have supported firibastat's market access in cardiology.
The Board of Directors has then decided to revoke Lionel Ségard, President and Founder of Quantum Genomics.
As a replacement for the revoked President, the Board of Directors has proposed and decided the appointment of Jean-Philippe Milon (CEO of Quantum Genomics) has President of the Board of Directors, in addition to its CEO's mandate. This proposal has been accepted by the Board of Directors. Jean-Philippe Milon is now President and CEO of Quantum Genomics.
The Company adds that the President of the Board of Directors' mandate will be free of compensation.
Changes in the Quantum Genomics' organisation chart
Following the negative results of the phase III FRESH study in resistant hypertension and the decision to prematurely discontinue the second phase III study (REFRESH) in this same indication, and on a wider scale, to stop all development of firibastat in cardiology, Quantum Genomics is implementing a plan to restructure its workforce which will involve the suppression of those functions related to the marketing and the market access of firibastat in cardiology.
"I wish to extend my warmest thanks to all the colleagues and of Quantum Genomics who have worked unstintingly for the success of firibastat and also to those whose efforts continue to enable the Company to develop a new corporate development plan" comments Jean-Philippe Milon, President and CEO of Quantum Genomics.
Discussions proceeding with Biotech / Medtech
Quantum Genomics has entered into discussions with several Biotech and Medtech companies, listed and non-listed, and is studying all opportunities and methods of possible joint ventures to build a new corporate development plan.
After having analysed over twenty dossiers, the Company has selected two projects, a Biotech company and a Medtech company, both non-listed. Advanced discussions with their management teams and due diligence procedures concerning operations are in progress.
These strategic discussions are being conducted in close collaboration with Otium Capital, the Company's major shareholder.
About Quantum Genomics
Quantum Genomics is a biopharmaceutical company specialising in the development of a new class of 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. It relies on over twenty years of research conducted in the Paris-Descartes University and the INSERM laboratory directed by Dr. Catherine Llorens-Cortès at the Collège de France.
Based in Paris and New York, the company is listed on Euronext Growth in Paris (FR0011648971- ALQGC) and trades on the OTCQX Market in the United States (symbol: QNNTF).
For more information on www.quantum-genomics.com, please visit our Twitter and LinkedIn sites.
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