GEM investing US$150 million in Quercis Pharma

Based in the Greater Zurich Area, the biopharmaceutical company Quercis Pharma has secured an investment commitment for up to US$150 million. This has been provided by the Luxembourg-based private alternative investment group GEM, as was reported in a press release.

This agreement with GEM helps secure funding as Quercis embarks on a route to go public. Specifically, the investor group will provide a share subscription facility of up to US$150 million for a 36-month term following a public listing.

The facility will allow Quercis to draw down funds by issuing shares of common stock to GEM, but features no minimum drawdown obligation. Concurrent with a public listing of Quercis shares, Quercis will issue warrants to GEM to purchase up to 3 percent of the common stock of the company. The exercise of these warrants will act as another funding exercise for Quercis.

Quercis is advancing its candidate designed to prevent and treat venous thromboembolisms in cancer patients. It is currently above all being trialed on patients with metastatic pancreatic cancer. The company is also focusing on drugs for other diseases associated with thrombotic events.