Quantum Genomics signs an exclusive license agreement with Teva Israel Ltd.
- Quantum Genomics will receive up to $11 M in payments and 25% minimum up to 30% royalties on future sales
- Teva will receive an exclusive license to bring firibastat to its home market, Israel
PARIS, Nov. 25, 2021 (GLOBE NEWSWIRE) -- Quantum Genomics (Euronext Growth – FR0011648971 – ALQGC), a biopharmaceutical company specializing in the development of a new drug class directly targeting the brain to treat difficult-to-treat/resistant hypertension, has today announced the signing of an exclusive license agreement with Teva Israel Ltd. – a subsidiary of Teva Pharmaceutical Industries Ltd. to market firibastat in Israel.
A global pharmaceutical company founded and headquartered in Israel, Teva will receive exclusive marketing, selling and distribution rights for resistant and difficult-to-treat hypertension in its home market.
Quantum Genomics will receive payments of up to $11 M and 25% minimum up to 30% royalties on future firibastat sales.
"Teva is now one of the world’s largest pharmaceutical companies. Its expertise and reputation are beyond doubt, as shown by its incredible management of the Covid-19 vaccination campaign in Israel. We’re proud to be partnering one of the pharmaceutical industry’s biggest successes, which is sure to make firibastat a leading technology in its category. We’re already talking about extending this exclusive license to new territories where Teva operates," said Jean-Philippe Milon, CEO of Quantum Genomics.
"We are very pleased to collaborate with Quantum Genomics in order to tackle together a substantial unmet need and introduce firibastat an innovative treatment to our Israeli patients suffering from resistant and difficult-to-treat hypertension," said Yossi Ofek, CEO of Teva Israel Ltd. and Cluster Head of Israel, Ukraine, South Africa & MEA. "Teva Israel has a robust and wide medicine portfolio, which consists of hundreds of generic, specialty and OTC medicines supporting most of Israel's medical needs, firibastat is an important addition to our value proposition in the field of cardiovascular diseases."
Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has been developing and producing medicines to improve people’s lives for more than a century. We are a global leader in generic and specialty medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day and are served by one of the largest and most complex supply chains in the pharmaceutical industry. Along with our established presence in generics, we have significant innovative research and operations supporting our growing portfolio of specialty and biopharmaceutical products. Learn more at www.tevapharm.com.
About Quantum Genomics
Quantum Genomics is a biopharmaceutical company specializing in the development of a new class of cardiovascular drugs, based on the Brain Aminopeptidase A Inhibition (BAPAI) mechanism. It is the only company in the world to pursue this innovative approach directly targeting the brain, founded upon more than twenty years of research work by Paris-Descartes University and the INSERM/CNRS laboratory led by Dr. Catherine Llorens-Cortès at the Collège de France. Quantum Genomics thus aims to develop innovative treatments for complicated or even resistant hypertension (in approximately 30% of patients it is poorly controlled or treatment failure occurs), and heart failure (one in two patients diagnosed dies within five years).
Based in Paris and New York, the company is listed on the Euronext Growth market in Paris (FR0011648971 – ALQGC) and the US market OTCQX (symbol: QNNTF).
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