Time is ripe for Quince with Orphai buy and $187m financing

19 May 2026

US biotech Quince Therapeutics (Nasdaq: QNCX) is abandoning its failed rare disease strategy and reinventing itself around pulmonary medicine after acquiring private company Orphai Therapeutics in a deal backed by up to $187 million in fresh financing.

The stock-for-stock transaction leaves existing Quince shareholders with just 6.9% of the combined company, effectively handing control to Orphai investors and new backers participating in the financing. The merged company will retain Quince’s Nasdaq listing.

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