Quantum Genomics, a biopharmaceutical company focused on cardiovascular diseases, has a completed placement and a capital increase, including the removal of preferential subscription rights, reserved for a category of beneficiaries.
The company said on Wednesday that in this placement it issued 2,191,698 ordinary shares at €3.75 per share, and warrants with a term of 30 months to purchase up to 1,643,774 additional ordinary shares at an exercise price of €4.75 per share.
This €8.2 Million fundraising may be increased to €16.0 Million if all of the share purchase warrants were to be exercised. Its purpose is to support Quantum Genomics’ development programs, including the Phase II arterial hypertension study that will be launched in Fall 2017 in the United States.
Called NEW-HOPE, for “Novel Evaluation With QGC001 in Hypertensive Overweight Patients of multiple Ethnic origins”, this Phase II study is designed to assess the effectiveness of QGC001 on 250 high-risk hypertensive patients. In response to the recommendations issued by the FDA (Food and Drug Administration), the study will primarily target a population of hypertensive patients with a specific profile known as “Low Renin High Vasopressin” (LRHV), who often have resistant arterial hypertension, which is poorly controlled or not treated by existing medications.