Quantum Genomics to receive up to $19 million in upfront and milestone payments plus double-digit royalties on sales
OEP to receive an exclusive license to develop and commercialize firibastat for the treatment of difficult to treat/resistant hypertension in South-East Asia, Australia and New Zealand
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 Orient EuroPharma (OEP) to develop and commercialize firibastat in South East Asia, Australia and New-Zealand. After its first partnership in Latin America, this new agreement is the first step of Quantum Genomics' partnering strategy in Asia.
Under the terms of the agreement, OEP will receive exclusive commercialization rights to firibastat for the treatment of difficult to treat/resistant hypertension in Taiwan, Malaysia, the Philippines, Singapore, Vietnam, Thailand, Indonesia, Myanmar, Cambodia, Australia and New-Zealand. Additionally, OEP will fund part of the Phase III study in difficult to treat/resistant hypertension in Taiwan as part of the overall pivotal Phase III trial led by Quantum Genomics.
Quantum Genomics will receive upfront and milestone payments amounting up to $19 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 10 million.
“OEP is the ideal partner for us with its experienced commercialization team, including dedicated sales forces, marketers, and existing successful partnerships with well-known companies in Asia, Europe and America. OEP has launched and marketed multiple cardiovascular drugs, and their proven track record and experience will be invaluable for the success of firibastat. This partnership highlights OEP's long-term confidence in firibastat and we look forward to working with them,” mentioned
Jean-Philippe Milon, CEO of Quantum Genomics.
Calvin Tsai, CEO of Orient EuroPharma, said: “OEP is always committed to improving human health, constantly seeking and launching innovative products to meet patients' need. The Phase IIb results of firibastat in arterial hypertension are promising. Firibastat's profile on difficult-to-treat and treatment-resistant hypertension fits well into our current cardiovascular product portfolio and Asian expansion strategy. We are excited to have the opportunity to bring this potentially transformative drug to Taiwan, South-East Asia, Australia and New Zealand. We are looking forward to a successful cooperation with Quantum Genomics.”
About Orient EuroPharma
Founded in 1982, Orient EuroPharma (OEP) became officially listed in the Taiwan Exchange in 2003. In the beginning, the Company was a prescription drug distributor, but has now become a full-scale, multinational pharmaceutical company. The core competencies of the Company not only include pharmaceutical innovation, R&D, manufacturing, sales and clinical trials, but has significantly increased the Company's operational efficiency through vertical integration to provide customers with more complete services. In 2019, the Company exceeded 1,000 employees worldwide, of which about 40% are overseas personnel, and the combined turnover exceeded NT$6 billion.
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
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