PARIS and NEW YORK, April 20, 2021 (GLOBE NEWSWIRE) -- 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 and resistant hypertension and heart failure, announces the end of its collaboration with Chinese Pharma Qilu in the development and the commercialization of firibastat in China.
In the frame of their collaboration, Quantum Genomics and Qilu Pharmaceutical did not succeed to align their view regarding firibastat development. Consequently, Quantum Genomics recovers its rights for the Chinese market and reopens discussions with international pharma companies for this market.
With a strong cash position which has been strengthened throughout year 2020, Quantum Genomics remains confident to further develop its worldwide coverage with the signing of new partnerships which should benefit to all stakeholders.
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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