Quantum Genomics has entered into an exclusive licensing and collaboration agreement with Xediton Pharmaceuticals to develop and commercialize firibastat in Canada.
Under the terms of the agreement, Xediton Pharmaceuticals will receive exclusive commercialization rights to firibastat for the treatment of difficult to treat/resistant hypertension in Canada. Quantum Genomics has already recruited patients in Canada for the pivotal phase III study FRESH.
Quantum Genomics will receive upfront and milestone payments amounting up to $11.35 million, plus double-digit royalties on sales.
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“We are proud to partner firibastat with Xediton Pharmaceuticals, a private-held specialty Pharma. We share common values: positively impact the lives of our patients through our products and physicians. With an experienced management team, Xediton Pharmaceuticals is a fully operational company having already three assets in cardiovascular on the market,” said Jean-Philippe Milon, Chief Executive Officer of Quantum Genomics.
“We are very pleased to partner with Quantum Genomics to bring to Canadian patients Firibastat. While there are numerous treatments in hypertension, there is not much available for patients who are resistant to current treatments. We are looking forward to Firibastat being on the market, as it will be of tremendous benefit to patients with difficult to treat/resistant hypertension and heart failure,” said George Gafrey, President of XEDITON Pharmaceuticals.