Quantum Genomics has entered into an exclusive licensing and collaboration agreement with Faran to develop and commercialize firibastat in Greece. This new agreement is the first step of Quantum Genomics’ partnering strategy in Europe.
Under the terms of the agreement, Faran will receive exclusive commercialization rights to firibastat for the treatment of difficult to treat/resistant hypertension in Greece. Additionally, Faran may join the global study of difficult to treat/resistant hypertension in Greece.
Quantum Genomics will receive upfront and milestone payments amounting up to $12.1 million, plus double-digit royalties on sales.
Over 20% of the adult general population in Greece suffers of Hypertension. Resistant hypertension is a common disorder with an estimated prevalence of more than 10% in the general hypertensive population.
Subscribe to our e-Newsletters
Stay up to date with the latest news, articles, and events. Plus, get special offers
from Pharmaceutical Outsourcing – all delivered right to your inbox! Sign up now!
“Faran who was established 70 years ago is one of the leading player in Greece. Having many long lasting partnerships with global pharmaceutical companies, Faran is focusing on eight innovative products and through an extended partnership with five more original products at Cardiology segment. We had intensive discussions with well experienced people and we are excited to partner firibastat with Faran in Greece," said Jean-Philippe Milon, Chief Executive Officer of Quantum Genomics.
"Faran is investing and focusing on Cardiology, with a clear vision to become local market leader. We are very enthusiastic to establish a partnership with Quantum Genomics," said Mario Katsikas, President & CEO of Faran.