Quantum Genomics announced on Wednesday that it had terminated the exclusive negotiations it entered into this summer with a view to a merger with Vistacare Medical.

In July, the biopharmaceutical company had announced that it had signed a letter of intent to merge with Vistacare, a specialist in the healing of complex wounds, while making the deal conditional on satisfactory audits.

Following these audits, Quantum believes that the financial outlook and the difficulties associated with Vistacare's fragmented shareholder base make it impossible to complete the transaction in the interests of its own shareholders.

As a result, Quantum Genomics has decided to resume discussions with unlisted healthtech companies meeting its selection criteria, i.e. a major field of activity, an innovative and differentiating project, know-how that can be replicated internationally, and a high-performance and complementary team.

The objective for Quantum Genomics is to relaunch a business project around its assets, in particular a cash position which currently stands at 4.5 million euros.

The share price fell by 27% after this announcement.

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