Quince Therapeutics announced that it has agreed to acquire Orphai Therapeutics (formerly AI Therapeutics, formerly LAM Therapeutics) and its LAM-001 inhaled dry powder rapamycin (sirolimus) for $115 million up front and up to an additional $72 million.
Quince said that a private placement for the total of $187 million as well as existing funds will support planned Phase 2 trials of LAM-001 for the treatment of bronchiolitis obliterans syndrome (BOS) and for sarcoidosis-associated pulmonary hypertension (SAPH) and a Phase 2b trial of for the treatment of pulmonary hypertension associated with interstitial lung disease (PH-ILD).
Separately, Quince announced the presentation of data from a Phase 2a trial of LAM-001 in patients with PAH and PH-ILD. The open-label trial enrolled 10 patients who received LAM-001 once a day over 24 weeks in addition to standard of care. According to the company, the study demonstrated “improvement or stabilization from baseline across multiple clinically relevant measures, including 6MWD, PVR, NT-proBNP and forced vital capacity (FVC).” The primary endpoint was change from baseline in VO2 max at Week 24.
Quince CEO and Chief Medical Officer Dirk Thye commented, “We believe the new LAM-001 clinical data, combined with the caliber of the Orphai management team and high quality syndicate of investors in the PIPE, all reinforce the value of this transaction and highlight our strategy to build a focused, high-impact biotechnology company. We also believe that Orphai’s differentiated LAM-001 program coupled with a newly strengthened balance sheet enhances our ability to deliver meaningful value for both patients and stockholders.”
Read the Quince Therapeutics press release on the purchase of Orphai
Read the Quince Therapeutics press release on the Phase 2a results
