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The latest funding secured by Quantum Genomics will enable the acceleration of R&D programs.
FREMONT, CA: Quantum Genomics, a biopharmaceutical firm specializing in the development of a new class of drugs that directly targets the brain to treat difficult-to-treat/resistant hypertension and heart failure, today announces it has secured ‚ €3 million in non-dilutive financing through grants from the French government and BNP bank and an R&D loan from Bpifrance.
BNP bank has given a ‚ €1.5 million loan, guaranteed by the French government (PGE) with an initial 12 months maturity, at a rate of 0.25 percent. The firm has been offered the option to request five years amortization. Bpifrance has granted a ‚ €1.5 million innovation and R&D loan for 7.6 years at an interest rate of 0.72 percent. The first reimbursement is scheduled for December 31, 2023.
The Company would like to thank the French government, Bpifrance, and its banking partners for supporting this financing. This additional non-dilutive financing, which processes were initiated last November 2020, secured the treasury in a context that remains uncertain. This comes at an essential time for the Company, following the recent capital raise in December 2020 and the signing of several partnerships with different strategic partners in 2020, all of which will strengthen and boost R&D programs.
Quantum Genomics is a biopharmaceutical firm specializing in developing a new class of cardiovascular medications based on brain aminopeptidase A inhibition (BAPAI). Quantum Genomics is the only firm in the world exploring this innovative method that directly targets the brain.