16.620 21 year ME loss

Quantum Genomics continued to receive payments under the partnership agreement announced in 2020 for the full year of 2021. QuantumGenomics has claimed and collected € 2.3 million royalties corresponding to the South Korean-signed initial payment (“prepayment”) partnership agreement. , Greece, Canada. This amount is in addition to the $ 1 million payment invoiced in April 2022. This corresponds to the first milestone payment (milestone) and is the payment after the first Korean patient was included in the REFRESH study.

Operating profit at the end of December 2021 was 3.2 ME (2.3 ME in the same period of the previous year). The business performance is -19.2 ME (-13.9 ME as of the end of December 2020). Staff costs remain controlled, but progress in clinical research logically leads to higher operational costs.

After accounting for the research tax credit at € 2.7 million, net income as of December 31, 2021 was € -16.6 million. Free cash flow (net business-related spending) during this period was -16.9 ME.

Strengthening financial situation

At the end of this exercise, the company’s equity reached 11.4 ME, to which 0.2 ME of other shareholders’ equity was added (conditional prepayment from Bpifrance). Earlier this year, the Orient EuroPharma Co. Ltd (OEP) Institute invested in Quantum Genomics as part of a € 900,000 reservation increase to strengthen cooperation between the two companies in Southeast Asia and Oceania.

Therefore, as of the end of 2021, the available cash amounted to 13.5 million euros (27.2 million euros as of December 31, 2020) and the financial debt was 3 million euros. These consist of a € 1.5 million state-guaranteed loan granted by BNP and a € 1.5 million innovation R & D loan obtained from BPI France.

On April 27, 2022, Quantum Genomics successfully increased its capital by 17.5 ME, including 1.9 ME from Julphar. This operation will cover the needs of the company through the second quarter of 2023 and secure Quantum Genomics research activities, especially in the context of delicate macroeconomics.

In this way, the company is strengthening its shareholder structure and renewing the trust of historic shareholders, including Otium Capital and Vatel Capital, partner Julphar, and new institutional investors.

Jean-Philippe Milon, CEO of Quantum Genomics, commented: Marketing phase of Philibastat in difficult or tolerant hypertension by the end of 2023. In addition to executing the current project, we have implemented a capital increase to explore new therapeutic indications from the BAPAI platform. This is a testament to the support and trust of past shareholders, partner Julfer, and new shareholders. Therefore, we continue our development trajectory with confidence, tranquility and determination, and finally we are working to achieve the first registration of Philibastat. 2023. Approaching This is a fundamental step for Quantum Genomics and its shareholders, long-awaited by millions of patients around the world suffering from resistant or difficult-to-treat hypertension. “