• Quince Therapeutics has acquired clinical-stage Orphai Therapeutics, adding lead asset LAM-001, an inhaled rapamycin formulation being developed for pulmonary diseases including PH-ILD and bronchiolitis obliterans syndrome.
• The stock-for-stock deal exchanges Orphai equity for 3,258,517 Quince common shares, 67,101 shares of Series C non-voting convertible preferred stock, options for 26,332,798 common shares, and replacement warrants that could generate about $10.9 million if exercised.
• A concurrent private placement is set to raise up to $187 million in gross proceeds, including $115 million upfront, with up to about $72 million tied to warrant exercise; closing is expected May 21, 2026.
• On a fully diluted basis assuming full conversion of the Series C preferred, pre-deal Quince holders are expected to own about 6.9%, legacy Orphai holders about 31.9%, and private placement investors about 61.2%.
• Cash from the financing and existing balances are expected to fund operations through end-2028, supporting Phase 2 data in BOS in Q1 2027 and a planned Phase 2b readout in PH-ILD in Q1 2028.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Quince Therapeutics Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202605180926PRIMZONEFULLFEED9722127) on May 18, 2026, and is solely responsible for the information contained therein.