Quantum Genomics Corp boosts European capacity with a new purchase

Global biotech company Quantum Genomics Corp (QGC) is honing its expertise in the identification and development of projects the life sciences with the acquisition of Eurobiobiz.

QGC's core business is in the development of new drugs, which includes products that treat metabolic and cardiovascular diseases.

In order to do this, the company identifies research projects involving innovative compounds with a high potential of reaching the clinic. Eurobiobiz has developed a tried and tested evaluation method for this type of research project and holds a unique position in Europe in this domain. This acquisition means that a dedicated and experienced team now joins QGC. QGC has already worked with this team for more than a year on the evaluation of a number of scientific projects. Bringing the two companies together will further improve this synergy.

"Through this acquisition, QGC boosts its business development and its ability to detect useful molecules, especially in Eastern Europe where Eurobiobiz has particularly good connections and where scientific resources are under-exploited," said Lionel Segard, chairman and ceo of QGC. "Eurobiobiz's experience of both in- and out-licensing as well as its know-how in training scientists Europe-wide, is a real plus for QGC and will enable us to accelerate the development of our molecules from the scientist's bench through to late-stage clinical trials."

Financial terms between the two companies have not been disclosed.