Date: 2016-03-24
Type of information: Private placement
Company: Quantum Genomics
Investors:
Amount: €8.6 Million
Funding type: private placement, capital increase
Planned used: These funds will be used to accelerate Quantum Genomics’ development programs by funding, in particular:
the launch of a Phase 2 multicentric human clinical trial in Europe of QGC101 for the treatment of heart failure,
clinical trials planned in the United States, following the recent formation of a US Clinical Ethics Committee and the opening of an office in New York on March 1, 2016. The funds will also be used to conduct the Phase IIb clinical trials for high blood pressure among a targeted population, scheduled for 2017, Quantum Genomics intends to begin regulatory discussions with the FDA this year, 2016.
Others: * On March 24, 2016, Quantum Genomics announced that it has completed a private placement with U.S. institutional investors totalling €5.54 million. Directly following the U.S. capital increase, the Company raised an additional €3.04 million through a public offering in Europe through existing shareholders, for a total of €8.6 million.
In these two placements, the Company issued 1,429,973 shares at €6.00 per share, and warrants to purchase an additional 714,986 shares at an exercise price of €7.75 per share for 30 months. The warrants, if fully exercised, would generate additional proceeds of €5.5 million. Participation in the European rights offering was open to shareholders of Quantum Genomics as of March 16, 2016. Maxim Group LLC acted as the exclusive placement agent in the United States, and Invest Securities managed the subscriptions in France.
* On March 17, 2016, Quantum Genomics announced the completion of a capital increase via private placement in the amount of €5.54 million by the issuance of 923,644 shares with redeemable equity warrants at €6.00 per share.
On announcing the transaction, Quantum Genomics revealed that US investment funds managed by Sabby Management have taken an equity stake in the company. Based in New Jersey, Sabby Management manages investment funds and invests primarily in the healthcare, pharmaceutical and biotechnology sectors.
Having completed this transaction, Quantum Genomics announces the launch of a capital increase in the form of a Public Offering, with preferential subscription rights (PSR) removed but with a priority period introduced, in the amount of €2.94 million, by issuing 490,686 shares with redeemable equity warrants (ABSAR) at a unit price of €6.00, which may be increased to €3.04 million by issuing 506,329 ABSAR if the 3.19% Increase Option is exercised in full. The subscription period will open on March 16, 2016 and close on March 23, 2016.
Therapeutic area: Cardiovascular diseases
