Quince Therapeutics Sells Legacy Portfolio to Lighthouse Pharmaceuticals

Biopharmaceutical company, Quince Therapeutics (Nasdaq: QNCX), has sold its legacy small molecule protease inhibitor portfolio to Lighthouse Pharmaceuticals.

As a result of the sale, Quince expects to benefit from the reduction of more than $500,000 of annualized expenses associated with the operational and financial support of the assets.

 Highlights

  •  Quince may receive up to $150 million in regulatory and commercial milestones payments on a product-by-product basis, subject to conditions in the agreement.
  • Under the terms of the agreement, Quince may receive tiered royalty rates of annual net sales related to the two existing clinical stage programs and the preclinical programs.
  • The company may also receive a share of the sublicense income or acquisition value of clinical and preclinical assets on a product-by-product basis.
  • Quince will receive a 7.5% ownership stake of Lighthouse Common stock with anti-dilution through the first $10 million raised.

Quince Therapeutics is advancing innovative precision therapeutics targeting debilitating and rare diseases.

Share This Article

 

About the Author

Quince Therapeutics Sells Legacy Portfolio to Lighthouse Pharmaceuticals

Editor Prism MarketView