Quantum Genomics Secures €3 Million Non-dilutive Financing

Rhea-AI Summary

Quantum Genomics has secured €3 million in non-dilutive financing, including €1.5 million from BNP bank, guaranteed by the French government, and a €1.5 million R&D loan from Bpifrance. The BNP loan has a 12-month maturity at a 0.25% interest rate, while the Bpifrance loan spans 7.6 years at 0.72%. Company CEO Jean-Philippe Milon highlighted the importance of this funding for the company's R&D programs amidst market uncertainties, especially following their recent capital raise and strategic partnerships.

Positive

• Secured €3 million in non-dilutive financing to boost R&D.
• BNP bank loan has a low interest rate of 0.25% with flexible repayment options.
• Funding comes at a strategic time after recent capital raise and partnerships.

Negative

• None.

€1.5 million guaranteed by the French government (PGE) and granted by BNP bank

€1.5 million innovation and R&D loan granted by Bpifrance

Funding will allow for acceleration of R&D programs

PARIS, April 28, 2021 (GLOBE NEWSWIRE) -- Quantum Genomics (Euronext Growth - FR0011648971 - ALQGC), a biopharmaceutical company specializing in the development of a new class of drugs that directly targets the brain to treat difficult-to-treat/resistant hypertension and heart failure, today announced it has secured €3 million in non-dilutive financing through grants from the French government and BNP bank and an R&D loan from Bpifrance.

BNP bank has granted a €1.5 million loan, guaranteed by the French government (PGE) with an initial 12 months maturity, at a rate of 0.25%. The Company has been given the option to request 5 years’ amortization.

Bpifrance has granted a €1.5 million innovation and R&D loan for a period of 7.6 years at an interest rate of 0.72%. First reimbursement is scheduled on December 31, 2023.

“We would like to thank the French government, Bpifrance and our banking partners for their support in this financing. This additional non-dilutive financing, which processes were initiated last November 2020, secured our treasury in a context which remain uncertain. This comes at an important time for our Company, following our recent capital raise in December 2020 and the signing of various partnerships with various strategic partners in 2020, all of which will serve to strengthen and accelerate our R&D programs,” said Jean-Philippe Milon, Chief Executive Officer of Quantum Genomics.

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

Contacts

Quantum Genomics
contact@quantum-genomics.fr
So Bang (EUROPE)
Financial and Media communication quantum-genomics@so-bang.fr
LifeSci (USA)
Mike Tattory Media Relations and Scientific communications +1 (646) 751-4362 - mtattory@lifescipublicrelations.com

 

FAQ

What recent funding has Quantum Genomics received?

Quantum Genomics secured €3 million, including €1.5 million from BNP bank and €1.5 million from Bpifrance.

What is the interest rate on the BNP bank loan for Quantum Genomics?

The BNP bank loan has an interest rate of 0.25%.

How long will it take for Quantum Genomics to start repaying the Bpifrance loan?

The first reimbursement for the Bpifrance loan is scheduled for December 31, 2023.

What are the main areas of focus for Quantum Genomics' R&D programs?

Quantum Genomics focuses on developing drugs for resistant hypertension and heart failure.

What is the significance of this funding for Quantum Genomics?

This funding is crucial for accelerating R&D efforts in a challenging market environment.