Quantum Genomics, a biopharmaceutical research company developing new treatments in the field of cardiovascular diseases, has announced a capital increase gained through private placements totalling €3.4 million through the issuance of 637,334 new shares at a unit price of €5.35.
Following this transaction, Quantum Genomics has announced both the transfer and the resumption of trading of its securities on the Alternext market of Euronext Paris from 10 April, 2014. These securities will be listed continuously and a liquidity agreement is being drawn up with Aurel BGC. The ISIN code remains unchanged (FR0011648971) whereas the ticker symbol will become ALQGC from said date.
Lionel Ségard, Chairman & CEO of Quantum Genomics, comments:
‘This capital increase is consistent with our long-term objective, which is to structure Quantum Genomics capital with investors who will support both our development and the financing of our research programmes in their entirety. In the short term, it will enable us to strengthen our team and to initiate the second clinical phase of our most advanced product in treating hypertension.'
Contributions from new investors in Quantum Genomics capital
Téthys, the Bettencourt-Meyers family holding company, has played a role in this capital increase alongside several long-standing shareholders and the entire management. Other institutional investors have also subscribed to this private placement.
Jean-Pierre Meyers, CEO of Tethys, explains:
‘Participation in this capital increase allows the Bettencourt-Meyers family holding company to lend their support to a team of high-level scientists.
Thus, Tethys can accompany the development of a major innovation in the field of hypertension and heart failure, where unmet medical needs remain particularly significant.'
Marc Karako, CFO of Quantum Genomics, adds:
‘This fundraising is also being pursued by the management team and several long-standing shareholders who have testified to their involvement in the company project.
The transfer of the listing to Alternext will now allow us to be able to increase the market visibility of our company while working on developing and maintaining close relationships with our shareholders.'
Raising funds primarily devoted to initiating a phase IIa clinical study with the ‘first-in-class' drug candidate, QGC001, for the treatment of hypertension
Approximately 50% of people currently treated by antihypertensive drugs continue to suffer from high blood pressure. This figure shows a clear need for new classes of drugs which aim to improve blood pressure control.
QGC001 is the first molecule of a new class of antihypertensive agents known as BAPAI (Brain Aminopeptidase A Inhibitors). The inhibition of Brain Aminopeptidase A induces three pharmacological effects required to treat hypertension and related cardiovascular diseases: a decrease in vascular resistance, a decrease production of antidiuretic hormon and a regulation in the heart rate.
QGC001 aims to provide a therapeutic alternative to the treatment of hypertension, particularly for patients with a specific hormonal profile, characterised by a lowered concentration of renin and a higher level of vasopressin (LRVH profile), whose blood pressure is more difficult to control with conventional systemic renin-angiotensin system blockers.
In early 2014, the Agence Nationale de la Recherche (ANR - French National Research Agency) already granted a subsidy of €1 million to Quantum Genomics and its partners, Inserm and the Hôpital Européen Georges-Pompidou (Georges Pompidou European Hospital), with a view to conducting phase IIa of QGC001.
A portion of the funds raised will also contribute to pursuing three further axes of development within the company: a) to complement the findings of the preclinical programme for the prevention and treatment of cardiac insufficiency, b) to advance the preclinical phases of the ‘best-in-class' product derived from QGC001 and c) to continue studies of combinations with other antihypertensive agents.
Quantum Genomics further emphasises that in February 2014, a collaboration agreement (with a licensing option) was agreed with a major company in the field of animal health in relation to the cardiac insufficiency programme, whose development is carried out in parallel to the studies on arterial blood pressure. This collaboration is intended to validate the therapeutic benefits of the drug candidate for the treatment of heart failure in dogs.
About Quantum Genomics
Quantum Genomics is a biopharmaceutical research company developing new therapies for unmet medical needs in the field of cardiovascular diseases, including hypertension and heart failure.
Quantum Genomics is in the process of developing a new therapeutic approach based on BAPAI (Brain Aminopeptidase A Inhibition). This is the result of more than twenty years of academic research that has taken place in the laboratories of the Collège de France, INSERM and CNRS.
Quantum Genomics will be listed from 10 April, 2014 on the Alternext market in Paris (ISIN code: FR0011648971 – Ticker symbol: ALQGC).
Contacts
| Quantum Genomics Lionel Ségard Chairman & Chief Executive Officer (+33) 1 60 13 76 45 80 | Quantum Genomics Marc Karako Chief Financial Officer - Investor relations (+33) 1 60 13 76 45 84 [email protected] | ACTUS Jean-Michel Marmillon Press Relations (+33) 1 53 67 07 45 80 [email protected] |
Main characteristics of the capital increase and the transfer to NYSE Alternext in Paris
Nature of the transaction
Fundraising is carried out through a capital increase by issuing ordinary shares, without shareholders' preferential subscription rights or a priority subscription period.
The transaction was conducted through the issuance of 637,334 new shares at a unit price of €5.35 - a total of €3,409,736.90 in issuance proceeds. On the basis of a social capital consisting of 4,110,069 shares prior to the transaction, the capital increase now represents a new total number of shares, standing at 4,747,403.
Legal framework
Through the authority granted to shareholders by the Combined Shareholders' General Meeting on 21 November 2013, in its 11th, 12th, 13th and 14th resolutions, the Board of Directors at Quantum Genomics passed a decision, at its meeting held on 1 April, 2014, on the principle of a capital increase without shareholders maintaining their preferential subscription rights within the framework of a private placement, without a public offering, whose procedures are contained in the present release.
Distribution of capital
At the end of the transaction, the distribution of Quantum Genomics social capital is as follows:
- Long-standing family offices : 47,39%
- Managers : 17,27%
- New private placement investors : 9,98%
- Floating : 25,36%
Listing of new shares
New shares will be entitled to dividend rights from 1 January, 2014 and will be negotiable on the Alternext market from 10 April, 2014. They will be admitted to trading on the same line as the existing shares (ISIN code: FR0011648971 - ALQGC) and will be fully assimilated following the planned admission for trading date.
Transfer to Alternext in Paris
The transfer of the listing of 4,747,403 Quantum Genomics shares from the French Free Market to the Alternext market in Paris will be effective as of the stock market trading session on Thursday, 10 April, 2014. As of this date, Quantum Genomics shares will be processed continuously, from 9.00 a.m. to 5.25 p.m., with a pre-opening period from 7.15 a.m. to 9.00 a.m. and a pre-closing period from 5.25 p.m. to 5.30 p.m., followed by the closing auction at 5.30 p.m. The Quantum Genomics ISIN code remains unchanged (FR0011648971), whereas the ticker symbol will become ALQGC from 10 April, 2014.
Quantum Genomics has chosen Euroland Corporate as its Listing Sponsor to support the company throughout the Alternext transfer process.
Partenaires de l'opération
| EuroLand Corporate | Aurel BGC | ACTUS finance & communication |
| Transactions Committee & Listing Sponsor | Lead Arranger & Bookrunner | Financial Communications |
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