READ THE FULL ALQGC RESEARCH REPORT
Quantum Genomics S.A. (EPA:ALQGC) raised €15.6 million gross in an April capital raise with several new and existing shareholders. Participants in the raise include Otium Capital, the family office of Pierre-Edouard Stérin and Vatel Capital among others. In parallel, recently added partner Julphar agreed to increase its capital investment by €1.87 million. The Julphar shares have a one year lockup attached.
Shares associated with the €15.6 million raise were issued at €2.44 per share, a 15% discount to the April 26 Quantum closing price. Subscription rights, which allow a shareholder to maintain his proportional ownership in the company, were rescinded as part of the offering.
Funds from the raise will be used to continue the funding of firibastat development and explore new therapeutic fields based on existing Brain Aminopeptidase A Inhibition (BAPAI) patents. Following the financing, Quantum will hold €23.6 million in cash, which is sufficient to fund operations until 2Q:23.
New Appointments, Patents and Publications
Stephane Cohen joins as Director of Global Operations
On March 14,, 2022, Quantum announced that Stéphane Cohen joined the firm as Director of Global Operations. Stéphane Cohen has held operational management and senior leadership positions involving a dozen successful market launches of new treatments in major pharmaceutical companies, particularly at Bayer and Pfizer for eighteen years. Cohen earned his PharmD from Aix-Marseille University, his master's in marketing from the ESSEC Business School, and his baccalaureate from Ecole de Provance.
New patents granted for QGC606
On March 28, 2022, Quantum reported that QGC606 was granted the following patents US 17/437,862 and AU2020235216. These two new patents protect QGC606 in the United States and Australia until March 2040, including any derivative pharmaceutical compositions, for the treatment of cardiovascular disease.
Quantum published a new scientific article regarding the efficacy of QGC606 in an experimental model of heart failure. The article titled "QGC606, a best-in-class orally active centrally acting aminopeptidase A inhibitor prodrug, for treating heart failure following myocardial infarction" appeared in the Canadian Journal of Cardiology. The research piece found that chronic oral administration of QGC606 in mice after myocardial infarction provided beneficial effects. It improved cardiac function and reduced cardiac remodeling and fibrosis, but did not reduce blood pressure, unlike ramipril.
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