Quantum Genomics Enters into Exclusive Licensing and Collaboration Agreement with Qilu Pharmaceutical

Rhea-AI Summary

Quantum Genomics has entered an exclusive licensing agreement with Qilu Pharmaceutical to develop and commercialize firibastat for resistant hypertension in Greater China, including Hong Kong and Macao. Quantum Genomics will receive up to $50 million in upfront and milestone payments, along with double-digit royalties on sales. The target market is approximately 25 to 30 million people suffering from this condition in the region. This partnership is part of Quantum Genomics' strategy to expand in Asia, enhancing its financial outlook and potential revenue streams.

Positive

• Quantum Genomics will receive up to $50 million in upfront and milestone payments.
• The agreement includes double-digit royalties on sales.
• This partnership expands Quantum Genomics' presence in Asia.

Negative

• None.

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

PARIS and NEW YORK, Oct. 19, 2020 (GLOBE NEWSWIRE) -- 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).

For more information, please visit www.quantum-genomics.com, or follow us on Twitter and LinkedIn.

Contact information

Quantum Genomics
Jean-Philippe Milon CEO jean-philippe.milon@quantum-genomics.com	Benoît Gueugnon CFO benoit.gueugnon@quantum-genomics.com
So Bang (Europe)
Nathalie Boumendil Financial Communications +33 (0)6 85 82 41 95 | nathalie@so-bang.fr	Samuel Beaupain Media Relations and Scientific Communications +33 (0)6 88 48 48 02 | samuel@so-bang.fr
LifeSci (USA)
Dan Ferry Financial Communications +1 (617) 430-7576 | Daniel@lifesciadvisors.com	Mike Tattory Media Relations and Scientific Communications +1 (609) 802-6265 | mtattory@lifescicomms.com

FAQ

What agreement did Quantum Genomics announce on October 19, 2020?

Quantum Genomics announced an exclusive licensing agreement with Qilu Pharmaceutical to develop firibastat for resistant hypertension in Greater China.

How much can Quantum Genomics earn from the Qilu Pharmaceutical deal?

Quantum Genomics can earn up to $50 million in upfront and milestone payments, plus double-digit royalties on sales.

What is firibastat used for?

Firibastat is developed for the treatment of difficult to treat/resistant hypertension.

What is the estimated population suffering from resistant hypertension in Greater China?

The estimated population is between 25 and 30 million people.

What market is Quantum Genomics expanding into?

Quantum Genomics is expanding into the Greater China region, including Hong Kong and Macao.