After ending all cardiology work in the wake of a failed phase 3 trial, Quantum Genomics is now reorganizing its board of directors, restructuring staff and again conducting a strategic review.
Back in October 2022, Quantum announced the phase 3 hypertension trial failure of brain aminopeptidase A inhibitor firibastat. The therapy was advanced into the late-stage study on the strength of a single-arm phase 2 trial, meaning it was not tested against a comparator or placebo. Once it was pitted against placebo in the more robust phase 3 study, firibastat was unsuccessful at reducing systolic blood pressure. Quantum then moved to leave the cardiology space and reallocate resources.
But the company is now undergoing a major overhaul. In a tersely worded press release, Quantum announced Wednesday that Frédéric Duchesne resigned from his role as independent administrator. His “past experiences in the pharma industry should have supported firibastat's market access in cardiology,” the release said.
Founder and President Lionel Ségard has been ousted and will be replaced with CEO Jean-Philippe Milon.
Quantum is also restructuring its workforce, although the specific number of employees affected was not noted. The changes will impact those who were dedicated to marketing and working toward market access for firibastat, according to the press release.
Remaining staff will “continue to enable the company to develop a new corporate development plan,” Milon said in the press release.
Meanwhile, Paris- and New York-based Quantum is conducting discussions with several biotech and medtech companies to identify potential joint ventures to “build a new corporate development plan.” The company has so far analyzed 20 “dossiers” and has picked two. Details are slim, but Quantum said both are non-listed companies, one a biotech and the other a medtech. Advanced discussions with both companies’ management are underway now.