Quantum Genomics, a biopharmaceutical company specializing in the development of first-in-class drugs directly targeting the brain to treat complex/resistant hypertension, has announced the signing of an exclusive license and production agreement with Julphar to market and produce firibastat in the Middle East, all African countries, Commonwealth of Independent States and Turkey.
A pharmaceutical company based in the United Arab Emirates and leader in the MENA region, Julphar will receive exclusive rights to manufacture and market firibastat in the following geographic areas: the MENA1 region, CIS2, Turkey and all other countries on the African continent.
With its state-of-the-art manufacturing facilities in the emirate of Ras Al Khaimah, making it possible to mass produce firibastat, Julphar will also be Quantum Genomics’ exclusive supplier for said regions.
Quantum Genomics will receive up to $20M in upfront, development and sales milestone payments as well as royalties on future firibastat sales.
Julphar has also pledged to invest $2M in Quantum Genomics through a private placement. Details of the transaction will be announced shortly.
"Julphar, which was founded forty years ago, is one of the largest pharmaceutical companies in the MENA region. Its success has been built on its comprehensive portfolio including anti-infectives, dermatology and diabetes products and its presence in all key MENA markets. Its business is expanding fast, and cardiology is one of its key areas of investment. Julphar is also among the region’s largest producers and is the ideal partner to support firibastat’s future production needs. We’re already exploring how Julphar could meet some of those requirements for the United States and Europe,"
Jean-Philippe Milon, CEO of Quantum Genomics
Commenting on the agreement, Dr. Essam Mohammed, Julphar’s CEO said: “Julphar is delighted to partner with Quantum Genomics to commercialize firibastat, a first in class molecule to treat resistant and difficult-to-treat hypertension, and to produce it in our state-of-the-art manufacturing facilities in Ras Al Khaimah. We are confident that firibastat will add strong value to the treatment of this unmet medical need and to Julphar’s portfolio.”
Dr. Essam Mohammed added: “The new landmark agreement brings together a stronger focus on innovative ways to address critical diseases in the MENA region through manufacturing high-quality medications locally.”
Julphar is one of the largest pharmaceutical manufacturers in the Middle East and Africa, and for more than four decades, the company has been delivering high quality, innovative and affordable healthcare solutions to families across the globe. Established under the guidance of His Highness Sheikh Saqr Bin Mohammed Al Qasimi in 1980, Julphar employs 2,500 people and distributes pharmaceutical products to more than 50 countries across the globe.
Julphar’s business is centered on three core business units – Julphar Diabetes Solutions, General Medicines and its consumer division, Julphar Life – which target major therapeutic segments including Gastrology, Pain Management, Wound Care, Antibiotics and Cardio-metabolism. Julphar has 13 internationally accredited facilities in the Middle East and Africa. In 2012, Julphar became one of the largest producers of Insulin with its UAE-based biotechnology production unit.
About Quantum Genomics
Quantum Genomics is a biopharmaceutical company specializing in the development of a new class of cardiovascular drugs, based on the Brain Aminopeptidase A Inhibition (BAPAI) mechanism. It is the only company in the world to pursue this innovative approach directly targeting the brain, founded upon more than twenty years of research work by Paris-Descartes University and the INSERM/CNRS laboratory led by Dr. Catherine Llorens-Cortès at the Collège de France. Quantum Genomics thus aims to develop innovative treatments for complicated or even resistant hypertension and heart failure.