PARIS and NEW YORK, Feb. 09, 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 that Orient EuroPharma Co. Ltd (OEP) has acquired an equity interest in the company.
Last September, OEP and Quantum Genomics announced the signing of an exclusive licensing and collaboration agreement to develop and market firibastat in Southeast Asia, Australia and New Zealand. As a follow-up to this agreement OEP acquired a minority stake in the capital of Quantum Genomics, thus strengthening the cooperation between the two companies.
"This investment further demonstrates Orient EuroPharma's confidence in our company. We are delighted to be welcoming a new shareholder with strong expertise in the pharmaceutical industry and positioning that is complementary to our own. This supports our strategy of bringing a new, unique and globally patented therapeutic class of drugs for the treatment of difficult-to-treat/resistant hypertension and heart failure to market," said Jean-Philippe Milon, Chief Executive Officer of Quantum Genomics.
OEP today subscribed to a reserved capital increase of 870,000 euros, at a price of 4.83 euros per share, which corresponds to the volume-weighted average price of the last twenty trading sessions, without any discount. The shares issued are subject to a mandatory three-year lock-up period.
Settlement and delivery of the new ordinary shares and their admission to trading on the Euronext Growth market in Paris are scheduled for February 25, 2021 at the latest. The new shares are subject to all statutory provisions and are treated in the same way as the old shares. The new shares bear rights and will be admitted to trading on the Euronext Growth Paris market under the same ISIN code FR0011648971 - ALQGC.
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).
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