Quantum Genomics (Alternext - FR0011648971 - ALQGC), a biopharmaceutical company with the mission of developing new therapies for unmet medical needs in the field of cardiovascular diseases, announces that its 2014 annual financial report is available on its website, which includes the 2014 annual financial statements approved by its Board of Directors on 22 April 2015. Quantum Genomics also presents an update on its activity for the first quarter of 2015.
Quantum Genomics main achievements in 2014
- Regulatory authorizations obtained to begin Phase II clinical trials of the first-in-class drug candidate against high blood pressure QGC001
The final results of the Phase Ia and Ib preclinical and clinical trials on QGC001 evaluated its safety, tolerance, pharmacokinetic qualities and pharmacodynamic parameters in animals and humans. On the strength of those results, Quantum Genomics obtained authorization from the French national drug and health products safety agency (ANSM) and the consumer protection agency (CPP) to begin Phase IIa clinical trials to demonstrate the efficacy and tolerance of QGC001 in hypertensive patients. Launched in the 1st quarter of 2015, this study will also identify the biomarkers that will help target patients.
Additionally, in other programmes – specifically QGC011 for treatment of high blood pressure in combination with other therapies, and QGC006 as best-in-class monotherapy for high blood pressure – preclinical studies continued in 2014 in accordance with the R&D schedule.
- Collaboration agreement signed, with a licensing option for the treatment of heart failure in animal health
In February 2014, Quantum Genomics announced that it had signed a collaboration agreement to develop the drug candidate QGC101 for the treatment of heart failure in dogs. At the end of the study, the results of which will be known by the end of June 2015, the partner laboratory will have a period of six months to exercise the option to continue developing and marketing the future drug in animal health under a license agreement to be negotiated with Quantum Genomics.
- Management team strengthened and a Scientific Advisory Board set up chaired by Prof Pierre Corvol
In late 2014, Quantum Genomics announced the arrival of Dr Olivier Madonna as Chief Medical Officer. This appointment was part of the process for completing the Phase II trials conducted in collaboration with Prof Michel Azizi, Director of the Clinical Investigation Centre at Georges Pompidou European Hospital.
In the second half of the year, Quantum Genomics also announced the appointment of its Scientific Advisory Board, chaired by Prof Pierre Corval and consisting of Prof John C Burnett Jr, Prof Mark Caulfield, and Prof Alexandre Persu. The Scientific Advisory Board will investigate, in particular, which biomarkers are pertinent for high blood pressure with the goal of improving the stratification of target patients (eg, those with low renin and high vasopressin) and resistant patients, as well as for heart failure.
- Funding received from Bpifrance and the French national research agency (ANR)
A €1 million subsidy, €430K of it for Quantum Genomics, was obtained from the ANR to support the QGC001 research programme, and in September a €260K conditional advance was granted by Bpifrance for the programme of combination with other other antihypertensive agents.
- Total funds raised in 2014: €6.65 million – Quantum Genomics listing transferred to Alternext Paris
In fiscal 2014, Quantum Genomics raised €6.65 million to fund its various research programmes, of which €3.65 million was via a capital increase by private placement in April plus a €3 million bond issue subscribed in December by the shareholder Téthys (then converted into shares as part of the capital increase with public offering in February 2015). Since 10 April 2014, Quantum Genomics shares (ALQGC), which are eligible for PEA-PME, are listed on Alternext Paris.
As at 31 December 2014, the Company had €3.3 million available cash.
Update on Q1 2015 activity
- Great success of the capital increase with public offering: €12.9 million raised
The first public offering on Alternext Paris by Quantum Genomics in the first quarter of 2015 was 3.4 times oversubscribed with spectacular participation by private investors. The €12.9 million capital increase (including the conversion of the €3 million bond) also broadened the Company's shareholding.
These funds will allow the Company to continue its four-pronged drug research in 2015 and 2016: monotherapy for high blood pressure, in combination with existing drugs, a more powerful 2nd-generation drug, and the prevention and treatment of heart failure.
- Start of Phase IIa trial for drug candidate QGC001:
In early March, Quantum Genomics announced that it had recruited the first three patients for its Phase IIa trial of QGC001. The four clinical investigation centres are now open, several patients have been admitted to the study, and recruitment is progressing as expected. These clinical trials will be conducted in approximately 30 hypertensive patients spread across four clinical investigation centres in Paris, Lyon, Lille and Dinard. The conclusions of the Phase IIa study will be available at the end of the first half of 2016.
- Joint Inserm + Quantum Genomics laboratory created at Collège de France with the support of the French National Research Agency (ANR)
Quantum Genomics has announced the creation of a joint laboratory, called CARDIOBAPAI, with the Inserm laboratory “Central Neuropeptides in Cardiovascular and Hydric Regulation” headed by Dr Catherine Llorens-Cortes, Inserm Research Director First Class, at Collège de France. The laboratory aims to conduct cross-disciplinary research into the innovative platform developed by Quantum Genomics on Brain Aminopeptidase A Inhibitors (BAPAIs). CARDIOBAPAI was certified ("labelled") by the French National Research Agency (ANR) which granted it a €300K subsidy for three years (2015 to 2017). In particular, this platform will support the best-in-class (QGC006) and combination (QGC011) programmes.
Upcoming events and investor meetings
- 27 & 28 April 2015: European Smallcap Event in Paris (France)
- 28 May 2015: European Midcap Event in Stockholm (Sweden)
- 15-18 June 2015: BIO International Convention in Philadelphia (USA)
- 17 & 18 June 2015: French Life Sciences Day in New York (USA)
- 6 & 7 October 2015: Midcap Event in Paris (France)
Quantum Genomics is a biopharmaceutical company with the mission of developing new therapies for unmet medical needs in the field of cardiovascular diseases, especially high blood pressure and heart failure.
Quantum Genomics is developing a new therapeutic approach based on BAPAI (Brain Aminopeptidase A Inhibition). This is the result of more than 20 years of academic research in the laboratories of the Collège de France, INSERM, CNRS and the University of Paris Descartes.
Quantum Genomics is listed on the Alternext market in Paris (ISIN code FR0011648971, Ticker ALQGC).
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