Qu Biologics Closes USD$12M Equity Financing
BURNABY, British Columbia, March 21, 2022 (GLOBE NEWSWIRE) -- Qu Biologics Inc., a private clinical stage biopharmaceutical company developing Site Specific Immunomodulators (SSIs), a novel platform of immunotherapies designed to restore innate immune function, is pleased to announce the closing of a USD$12M equity financing to enable expansion of Qu’s team, initiation of an additional three Phase 2 clinical studies, and the acceleration of Qu’s novel immunomodulation platform.
Hal Gunn, MD, CEO of Qu Biologics, stated, “Our team is grateful for this new equity funding that will allow us to expand our dedicated team and play an essential role in initiating three new Phase 2 randomized placebo-controlled clinical studies. Two of these important trials are in critical indications for which there are no effective treatments – innate immune decline in the elderly and post-operative innate immune suppression.”
“We are highly motivated and excited to be in the position to strategically move forward with the expansion of our science, manufacturing, and clinical teams to accelerate the development of Qu’s first-in-class multifaceted immunotherapy platform, which is designed to safely restore and mobilize the essential effector functions of the innate immune system through a process that involves innate immune training and tissue-specific targeting of activated immune cells. In contrast to other immunotherapies that try to target one cell or receptor, SSI therapy harnesses and directs the multiple components of innate immunity required by the body to overcome pathology and heal,” said Dr. Shirin Kalyan (PhD), Qu’s VP Scientific Innovation. Dr. Gunn added, “Given the broad application of our SSI platform, this funding brings Qu Biologics one step closer to providing critical, game-changing treatments for people living with cancer, infections, and chronic inflammatory diseases.”
For more information about Qu Biologics and the science behind SSIs, please visit www.qubiologics.com.
About Qu Biologics
Qu Biologics is a clinical stage biotechnology company developing Site Specific Immunomodulators (SSI), a novel class of immunotherapies designed to restore innate immune function in targeted organs to reverse the immune dysregulation underlying many important diseases including cancer, inflammatory bowel disease, infection, and inflammatory lung diseases. Qu has completed four Phase 2 studies in lung cancer, Crohn’s disease, and ulcerative colitis. Qu’s 5th Phase 2 study is underway in colon cancer, with four more Phase 2 randomized placebo-controlled studies planned in innate immunity in the elderly, colon cancer, pancreatic cancer, and lung cancer.
Backed by a prestigious group of scientific advisors and board members, Qu Biologics is led by a management team that includes co-founder and CEO Dr. Hal Gunn, a physician and expert on the body’s immune response to chronic disease; and Chief Medical Officer Dr. Simon Sutcliffe, former CEO of the BC Cancer Agency and a distinguished clinician, scientist and leader in cancer control in Canada and internationally. For more information, please visit www.qubiologics.com.
Qu Biologics Inc. cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Qu Biologics’ forward-looking statements due to the risks and uncertainties inherent in Qu Biologics’ business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Qu Biologics does not assume any obligation to update any forward-looking statements except as required by law.
For more information regarding this press release, contact: Hal Gunn, MD CEO Qu Biologics Inc. Phone: 604.734.1450 Email: firstname.lastname@example.org