Quince Therapeutics Engages MTS Health Partners as Independent Financial Advisor

Rhea-AI Summary

Quince Therapeutics, Inc. (Nasdaq: QNCX) has appointed MTS Health Partners, L.P. as its financial advisor to explore strategic alternatives aimed at maximizing long-term shareholder value. The review will emphasize opportunities in in-licensing and acquisitions, positioning Quince for potential growth.

Chairperson David Lamond highlighted the importance of this strategic review, stating a commitment to pursuing options that benefit all stockholders. The company has not guaranteed specific outcomes or timing from this process, indicating that further communication will only occur as deemed appropriate.

As a biotechnology firm, Quince is actively searching for innovative therapies to expand its development pipeline and improve the lives of patients with rare diseases.

Positive

• Engagement of MTS Health Partners suggests proactive steps towards identifying growth opportunities.
• Focus on in-licensing and acquisitions may lead to enhanced product pipeline and market position.

Negative

• No guarantees on the timing or outcome of the strategic alternatives review process could create uncertainty.
• The statement of exploring options may indicate current challenges or a need for restructuring.

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)-- Quince Therapeutics, Inc. (Nasdaq: QNCX), a biotechnology company focused on acquiring, developing, and commercializing innovative therapeutics that transform patients’ lives, today announced that it has retained MTS Health Partners, L.P. (MTS) as its financial advisor to support Quince’s Board of Directors and management team in the review and evaluation of strategic alternatives intended to maximize long-term value for all Quince stockholders. The engagement will focus on the company’s previously stated prioritization of in-licensing and acquisition activities, as well as alternative options and proposals, as warranted.

David Lamond, Quince’s chairperson, said, “Quince is at an important juncture and has a diverse range of strategic options before it. Our experienced directors and management team are committed to actively pursuing options that we believe best serve the interests of all stockholders. We look forward to the valuable expertise and independent counsel that MTS will provide to help guide the Quince through this important process.”

There can be no assurances given regarding the outcome or timing of the strategic alternatives review process. Quince does not intend to comment further until the process has concluded or the company has otherwise determined that further disclosure is appropriate or required.

About Quince Therapeutics

Quince Therapeutics is a biotechnology company focused on acquiring, developing, and commercializing innovative therapeutics that transform the lives of patients suffering from debilitating and rare diseases. The company is actively seeking compelling clinical-stage assets available for in-licensing and acquisition to expand its development pipeline. For more information, visit www.quincetx.com and follow Quince Therapeutics on LinkedIn and @Quince_Tx on Twitter. Interest regarding in-licensing and acquisition opportunities can be directed to bd@quincetx.com.

About MTS Health Partners, L.P.

MTS Health Partners, L.P. is a leading boutique investment bank that provides strategic and financial advice to the healthcare industry.

Forward-looking Statements

Statements in this news release contain “forward-looking statements” that are subject to substantial risks and uncertainties. Forward-looking statements contained in this news release may be identified by the use of words such as “believe,” “intend,” “will,” “can,” “seek,” or other similar words. Examples of forward-looking statements include, among others, statements relating to its focus, objectives, plans and strategies; the outcome or timing of the strategic alternatives review process and the ability to execute on any strategic transactions intended to maximize long-term stockholder value. Forward-looking statements are based on Quince’s current expectations and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict and could cause actual results to differ materially from what the company expects. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ include, but are not limited to, the risks and uncertainties described in the section titled “Risk Factors” in the company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 15, 2023, and other reports as filed with the SEC. Forward-looking statements contained in this news release are made as of this date, and Quince undertakes no duty to update such information except as required under applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230406005665/en/

Quince Therapeutics Contact:

Stacy Roughan

Quince Therapeutics, Inc.

Vice President, Corporate Communications & Investor Relations

ir@quincetx.com



Media:

Dan Gagnier & Riyaz Lalani

Gagnier Communications

quinceGFC@gagnierfc.com

Source: Quince Therapeutics, Inc.

FAQ

What strategic actions is Quince Therapeutics considering?

Quince Therapeutics is exploring strategic alternatives, including in-licensing and acquisitions, to maximize long-term value for shareholders.

Who is advising Quince Therapeutics in their strategic review?

MTS Health Partners, L.P. has been retained as the financial advisor for Quince Therapeutics during their strategic alternatives review.

What is the stock symbol for Quince Therapeutics?

The stock symbol for Quince Therapeutics is QNCX.

When was the strategic review process announced by Quince Therapeutics?

The strategic review process was announced on April 6, 2023.

What are the potential outcomes of the strategic alternatives review process?

While specific outcomes are uncertain, the review aims to identify options to enhance shareholder value.