Faraday Future invests $41 million in Qualigen Therapeutics

Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) completed a $41 million strategic investment in Qualigen Therapeutics Inc. (NASDAQ: QLGN), according to a statement from Univest Securities LLC, which served as sole placement agent for the transaction.

The investment consists of approximately $30 million from Faraday Future and $4 million from FF Founder and Global Co-CEO YT Jia, along with contributions from other investors including SIGN Foundation, a blockchain technology company. Additional investors include entities backed by Binance Labs, Sequoia Capital, IDG, and Circle.

Following the transaction's completion, Faraday Future holds approximately 55% of Qualigen's pro forma common stock, while Jia holds approximately 7%. Jia committed to a two-year lock-up period for his shares.

The investment was initially announced during Faraday Future's 919 Futurist Day event on September 19, 2025. Qualigen Therapeutics is a clinical-stage company focused on developing treatments for adult and pediatric cancer.

Faraday Future, founded in 2014, is a California-based electric vehicle company. The company's flagship model is the FF 91, and it has announced plans for mass production models targeting middle-to-low price ranges through its FX strategy.

Qualigen's pipeline includes investigational compound QN-302, described as a small molecule selective transcription inhibitor, and a family of Pan-RAS oncogene protein-protein interaction inhibitor compounds targeting various cancer types including pancreatic, colorectal, and lung cancers.

Univest Securities LLC, registered with FINRA since 1994, reported raising over $1.3 billion in capital for issuers globally since 2019 and completing approximately 100 transactions across various industries including technology, life sciences, and consumer goods.

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