Many have questions that the attached email from Stephen Squries may address and set you at ease?
Hello and thanks,
This morning, via Business Wire, Quantum Materials Corp received an equity investment from California-based private equity firm Pasaca Capital Inc. of $15 million. Under terms of the distribution agreement formed between the two companies, Quantum Materials Corp would receive cumulative gross royalties and/or gross sales, licensing or other revenues of no less than $15,000,000, over the period including 2020 and continuing until twelve months after the Company has completed development of a functioning product integrating the QMC HealthID intellectual property and Innova Medical Group’s products.
The investment supports expansion of the QMC HealthID™ solution, further exploration of applications for quantum dot technology in healthcare, and the development of next generation quantum dot enhanced COVID-19 rapid test kits, in parallel with Innova Medical Group Inc., a Pasaca Capital Inc. portfolio company. These efforts are being led by Todd K. Malan, M.D. the company’s Senior Vice President of Clinical Research at QMC HealthID Incorporated.
This news also builds upon the joint development of next generation COVID-19 rapid test kits, in partnership with Innova Medical Group Inc – the largest manufacturer of rapid antigen test kits and leader in COVID-19 testing solutions globally. The agreement between QMC HealthID™ and Innova Medical Group Inc. is non-exclusive and allows other registered test kits and diagnostic services to be used by QMC HealthID™ customers.
As quoted from QMC CEO, Stephen B. Squires; “We are looking forward to capitalize on the synergies between our companies,” said Stephen B. Squires, CEO of Quantum Materials Corp. “To join Pasaca Capital, as a portfolio company, represents a tremendous opportunity to enhance our QMC HealthID™ offering, to accelerate our COVID-19 work with Innova Medical Group Inc. and to expand the use of quantum dot technology to advance diagnostics in a broad range of disease states. Together, we’re working to bring greater precision, personalization and access to healthcare.”
For additional information, please reach out to Stephen Squires.
We look forward to continuing to update you with the latest news from QMC HealthID.
Hello and thanks,
This morning, via Business Wire, Quantum Materials Corp received an equity investment from California-based private equity firm Pasaca Capital Inc. of $15 million. Under terms of the distribution agreement formed between the two companies, Quantum Materials Corp would receive cumulative gross royalties and/or gross sales, licensing or other revenues of no less than $15,000,000, over the period including 2020 and continuing until twelve months after the Company has completed development of a functioning product integrating the QMC HealthID intellectual property and Innova Medical Group’s products.
The investment supports expansion of the QMC HealthID™ solution, further exploration of applications for quantum dot technology in healthcare, and the development of next generation quantum dot enhanced COVID-19 rapid test kits, in parallel with Innova Medical Group Inc., a Pasaca Capital Inc. portfolio company. These efforts are being led by Todd K. Malan, M.D. the company’s Senior Vice President of Clinical Research at QMC HealthID Incorporated.
This news also builds upon the joint development of next generation COVID-19 rapid test kits, in partnership with Innova Medical Group Inc – the largest manufacturer of rapid antigen test kits and leader in COVID-19 testing solutions globally. The agreement between QMC HealthID™ and Innova Medical Group Inc. is non-exclusive and allows other registered test kits and diagnostic services to be used by QMC HealthID™ customers.
As quoted from QMC CEO, Stephen B. Squires; “We are looking forward to capitalize on the synergies between our companies,” said Stephen B. Squires, CEO of Quantum Materials Corp. “To join Pasaca Capital, as a portfolio company, represents a tremendous opportunity to enhance our QMC HealthID™ offering, to accelerate our COVID-19 work with Innova Medical Group Inc. and to expand the use of quantum dot technology to advance diagnostics in a broad range of disease states. Together, we’re working to bring greater precision, personalization and access to healthcare.”
For additional information, please reach out to Stephen Squires.
We look forward to continuing to update you with the latest news from QMC HealthID.
