Quince Therapeutics Secures Phase 3 Asset Through EryDel Acquisition

Quince Therapeutics (Nasdaq: QNCX) has announced it will acquire EryDel SpA a privately-held, late-stage biotech company, in a stock-for-stock upfront exchange and potential downstream milestone cash payments.

Under the terms of the agreement, Quince will acquire EryDel’s Phase 3 asset – EryDex – targeting ataxia-telangiectasia (AT), a rare inherited condition with no cure and no currently approved treatments. A treatment for AT is estimated at more than $1 billion in peak annual sales.

The transaction is expected to close in the third quarter of 2023.

Highlights

Upon completion of the transaction, EryDel stockholders will own approximately 16.7% of the combined company (subject to downward adjustment) and will be entitled to up to $485 million upon the achievement of development, regulatory, and commercial milestone payments, with no royalties.

Quince expects to submit a New Drug Application for EryDex to the FDA by the end of 2025, assuming positive Phase 3 study results.

Quince is well-capitalized into 2026 and has the ability to fully fund lead asset EryDex expected through Phase 3 trial under special protocol assessment (SPA) and to NDA submission

EryDex has received orphan drug designation for the treatment of A-T from both the FDA and the EMA.

About Quince Therapeutics

Quince Therapeutics is a biotechnology company focused on acquiring, developing, and commercializing innovative therapeutics that transform the lives of patients suffering from debilitating and rare diseases. For more information, visit www.quincetx.com and follow Quince Therapeutics on LinkedIn and @Quince_Tx on Twitter.

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Quince Therapeutics Secures Phase 3 Asset Through EryDel Acquisition

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