Quantum Genomics Announces Lack of Significant Efficacy for Firibastat in Their Phase III Study, FRESH and is Redirecting to New Developments

Rhea-AI Summary

Quantum Genomics announced the discontinuation of the REFRESH study and development of firibastat due to non-significant efficacy results against placebo in the FRESH study. The decision was made for ethical reasons. The company will reallocate approximately 11 million euros to pursue new innovative treatments. CEO Jean-Philippe Milon affirmed commitment to therapeutic innovation and ongoing negotiations with potential BioTech/MedTech partners.

Positive

• Reallocation of 11 million euros to develop new innovative treatments.

Negative

• Efficacy results for firibastat in the phase III study FRESH are non-significant versus placebo.
• Discontinuation of the REFRESH study for ethical reasons.

• Firibastat efficacy non-significant versus placebo
  
• The REFRESH study and the development of firibastat in cardiology have been stopped
• Cash of 11 million euros allotted to the development of new innovative treatments, after discontinuation of the REFRESH study
  

PARIS, Oct. 28, 2022 (GLOBE NEWSWIRE) -- Quantum Genomics (Euronext Growth - FR0011648971 - ALQGC), a biopharmaceutical company specialising in the development of a new class of medications that directly target the brain to treat resistant hypertension and heart failure, announces that efficacy results for firibastat in its phase III study FRESH, are non-significant versus placebo. These results will be presented in detail at the AHA congress.

"Firibastat has unfortunately failed to demonstrate significantly greater efficacy than placebo in the phase III study FRESH. This has caused the Company to prematurely discontinue the second phase III study, REFRESH, for ethical reasons concerning the patients. For the same reason, in view of these results, it has been decided to stop the development of firibastat in cardiovascular," added Bruno Besse, Medical Director of Quantum Genomics.

"Nevertheless, we are committed to the mobilisation of all our strengths in the development of new innovative treatments designed to save more lives in more patients. It is with this in mind that we have already identified BioTech/MedTech with whom negotiations are on-going. I wish to thank all those who are working alongside us and those who are supporting us towards therapeutic innovation which has always been our mission," declared Jean-Philippe Milon, CEO of Quantum Genomics.

"Stopping the development of firibastat in cardiology and discontinuing the REFRESH study in particular, will enable the Company to switch its financial horizon for the third quarter 2023. Henceforth we will be re-allotting our funds, amounting to 11 million euros before the discontinuation of the REFRESH study, to the development of new innovative molecules in unmet therapeutic domains," adds Benoit Gueugnon, Quantum Genomics Chief Financial Officer.

All questions can be sent to: contact@quantum-genomics.com

About Quantum Genomics
Quantum Genomics is a biopharmaceutical company specialising 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. It relies on over twenty years of research conducted at Paris-Descartes University and on work directed by Dr Catherine Llorens-Cortes at the Collège de France (French National Institute of Health and Medical Research (INSERM)/ Scientific Centre for National Research (CNRS) laboratory). The goal of Quantum Genomics is to develop innovative treatments for difficult-to-treat or even resistant hypertension (hypertension is poorly or inadequately controlled in 30% of patients) and heart failure (one in two patients diagnosed with severe heart failure will die within five years).

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.

Contact information

Quantum Genomics
contact@quantum-genomics.com
Edifice Communication (EUROPE)
Financial and media communications quantum-genomics@edifice-communication.com
LifeSci (USA)
Mike Tattory Media communications +1 (646) 751-4362 - mtattory@lifescipublicrelations.com

FAQ

What were the results of the firibastat study by Quantum Genomics?

The firibastat efficacy results were non-significant versus placebo in the phase III study FRESH.

What impact did the discontinuation of the REFRESH study have on Quantum Genomics?

The REFRESH study was discontinued due to non-significant efficacy results, prompting the company to stop development of firibastat in cardiology.

How much funding will Quantum Genomics reallocate after stopping the REFRESH study?

Quantum Genomics will reallocate approximately 11 million euros to the development of new innovative treatments.

What is the future direction for Quantum Genomics after the firibastat discontinuation?

Quantum Genomics is committed to developing new innovative treatments and is currently in negotiations with potential BioTech/MedTech partners.