Quince Announces Acquisition of Orphai and up to $187 Million Private Placement to Advance Pulmonary Pipeline
Acquisition includes LAM-001, an inhaled formulation of rapamycin for multiple pulmonary diseases, including pulmonary hypertension associated with interstitial lung disease (PH-ILD) and bronchiolitis obliterans syndrome post lung transplant (BOS)$115 million in upfront financing with the potential to receive up to an additional $72 million upon exercise of accompanying warrantsUpfront proceeds from the private placement and existing cash and cash equivalents at closing are expected to fund operations through the end of 2028 and to support multiple expected milestones, including initiation of a Phase 2b trial in PH-ILD with data anticipated in Q1 2028 and delivery of Phase 2 data in BOS in Q
