Quince Therapeutics said it completed its acquisition of Orphai Therapeutics and arranged a concurrent private placement that could raise up to $187 million in gross proceeds, adding Orphai’s pulmonary program to its pipeline.

Quince Therapeutics said on May 18 that it acquired Orphai Therapeutics and arranged a concurrent private placement that could raise up to $187 million in gross proceeds.

The company said the transaction adds Orphai’s LAM-001 pulmonary program to Quince’s pipeline. It also said the financing, if completed as described, would support projected cash runway through the end of 2028.

Quince said the acquisition and financing were approved by both companies’ boards and by Orphai stockholders. The company said a stockholder vote is still required for conversion of the Series C non-voting convertible preferred stock.

The news was first disclosed in a company release and later reflected in a Quince 8-K filing with the U.S. Securities and Exchange Commission.

The company has not said in the material reviewed whether the full financing has already closed or only been signed and announced, and it did not provide a date for the required stockholder meeting.

Revision note

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