Quantum Genomics has entered into an exclusive licensing and collaboration agreement with Qilu Pharmaceutical to develop and commercialize firibastat in Greater China region, Hong Kong and Macao.
Under the terms of the agreement, Qilu Pharmaceutical will receive exclusive commercialization rights to firibastat for the treatment of difficult to treat/resistant hypertension in Geater China region including Hong Kong and Macao. Additionally, Qilu Pharmaceutical plans to join the global study of difficult to treat/resistant hypertension in China.
Quantum Genomics will receive upfront and milestone payments amounting up to $50 million, plus double-digit royalties on sales.
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The population suffering from difficult to treat and resistant hypertension in the above territories is estimated to be between 25 and 30 million.
“Quantum Genomics is the leading biopharmaceutical company specializing in the development of a new drug class based on the central action mechanism of Aminopeptidase A inhibition” said Dr. Binhui (Ben) Ni, Chief Business & Investment Officer, corporate vice president of Qilu Pharmaceutical, “Development of Firibastat, first-in-class for the treatment of high blood pressure and/or in combination with others anti-hypertensive drugs offers alternative treatments to address the significant unmet needs in China. We are confident that the unique mechanism of action with strong clinical data position Firibastat to make a meaningful impact on patients’ lives.”