PARIS and NEW YORK, Nov. 02, 2020 (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, today announced the end of its financing agreement with Negma Group Ltd/Park Partners.
Signed last March 2020 at the beginning of the COVID-19 pandemic, this financing, which includes a loan not exceeding €8 million and the issue of share subscription warrants, was renewable twice. The Company has already confirmed that this financing will not be renewed and will end at the end of the first instalment of €8 million.
To date, Quantum Genomics has redeemed the totality of this financing of €8 million and has issued 3,243,213 ordinary shares. The financial debt contracted with Negma Group Ltd has now been fully repaid. Negma Group Ltd has sold its last shares on the market.
Main terms of this financing agreement were detailed in a press release issued March 26, 2020.
Main figures of financing agreement with Negma Group Ltd
Amount redeemed: € 8 million in four instalments of € 2 million
Ordinary shares issued to date: 3,243,213
Remaining debt to be reimbursed by shares emission: € 0
Number of ordinary shares to be sold on the market by Negma Group Ltd: 0
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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