Quince Therapeutics, Inc. (QNCX): debt financing — Quince Therapeutics to acquire EryDel for up to 7.25M shares + $485M milestones

In connection with and contingent upon the consummation of the EryDel Acquisition, the Company will assume EryDel’s $13 million (€10 million in principal) European Investment Bank (EIB) loan with scheduled payments beginning in the second half of 2026.

On July 24, 2023, the Company announced that Karen Smith, Chief Medical Officer of the Company, would be leaving the Company, effective September 1, 2023.

On July 21, 2023, the Company Board of Directors approved the appointment of Luca Benatti to serve as a director of the Company, contingent and effective upon the closing of the EryDel Acquisition.

On July 21, 2023 (the “Agreement Date”), Quince Therapeutics, Inc., a Delaware corporation (the “Company”), EryDel Italy, Inc., a Delaware corporation and wholly owned indirect subsidiary of the Company, EryDel S.p.A, a company with shares incorporated under the laws of Italy, (“EryDel”), holders of EryDel capital stock and the managers of EryDel (the “EryDel Shareholders”) and Shareholder Representative Services LLC, a Colorado limited liability company solely in its capacity as the representative, agent and attorney-in-fact of the EryDel Shareholders, entered into a Stock Purchase Agreement (the “Purchase Agreement”), pursuant to which, and subject to the terms and conditions set forth in the Purchase Agreement, the Company will indirectly acquire all of the outstanding equity interests of EryDel (the “EryDel Acquisition”).