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Q BioMed gives life to undervalued biomedical assets

Snapshot

The company has a growing pipeline of drugs and therapies to treat metastatic cancer bone pain, autism, liver cancer, glaucoma

Q BioMed Inc - Q BioMed Inc gives live to undervalued biomedical assets

Quick facts: Q BioMed Inc

Price: 0.365 USD

OTCMKTS:QBIO
Market: OTCMKTS
Market Cap: $6.1 m
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  • Acquires undervalued biomedical assets to accelerate their development
  • Developing drugs and therapies to treat metastatic cancer bone pain, pediatric nonverbal autism, liver cancer and glaucoma
  • Commercialized flagship drug Metastron and generic version Strontium-89 target metastatic bone pain

What Q BioMed does:

Q BioMed Inc (OTCMKTS:QBIO) is a biotech company focused on licensing and acquiring undervalued biomedical assets in the healthcare sector.

The New York City-based company has a growing pipeline of drugs and therapies to treat metastatic cancer bone pain, pediatric nonverbal autism, liver cancer and glaucoma.

Q BioMed’s commercialized and flagship drug candidate is Metastron, which it purchased from GE Healthcare, to treat metastatic bone pain. The drug is administered intravenously once every three months as an alternative to opioid analgesics. The company also has a US Food and Drug Administration-approved generic version called Strontium-89 Chloride USP.

The company develops QBM-001 to treat toddlers with pediatric nonverbal autism who suffer from non-verbal or minimally verbal capabilities. The company says there is no effective treatment available to help an estimated 250,000 children born with the affliction worldwide each year (20,000 in the US).

Q BioMed also is working on two candidates to detect and treat glaucoma. In early 2019, it exercised its option to license from Washington University in St. Louis a diagnostic marker known as GDF15, for determining the severity of glaucoma. The company and technology partner Mannin Research Inc are developing MAN-01, a small-molecule therapeutic in eye-drop form, to treat primary open-angle glaucoma. The company also is developing a biologic, MAN-11, to treat glaucoma.  

As it targets ways to fight liver cancer, the company has been involved in a joint research program with India-based Chemveda Life Sciences since early 2017 to synthesize the compound uttroside-B, a type of chemical compound found in the Black Nightshade shrub, and study its use. 

Lastly, Q BioMed has two drug candidates in the preclinical stages. MAN-03 and MAN-04, respectively, which are designed to treat acute kidney injury and cardiovascular diseases. 

How is it doing?

The most recent news out of the company centers around some positive developments for the commercialization of Strontium-89. It recently entered into an exclusive agreement with Jubilant Radiopharma to distribute the drug in the US market.

Jubilant operates the second-largest commercial radiopharmacy network in the US and this development comes right on the heels of Q BioMed’s success in reaching an agreement with BioNucleonics Inc to assume immediate ownership of Strontium-89.

The company also recently formalized its collaboration with Chemveda Life Sciences to develop uttroside-B to treat liver cancer, following a successful chemical synthesis of the natural compound. As part of the deal, Q BioMed will pay Chemveda a mix of cash and stock as well as a capped royalty on net sales, and Chemveda will have the first right of refusal and the right to manufacture any products that come out of the collaboration.

Over the summer the company launched its Orphan Drug status application with the FDA and the European Medicines Agency for its pediatric autism drug candidate QBM-001. The company said the application will be based on its recent breakthrough discovery of two biomarkers that identify the affliction. The company's study examined 1,953 autistic biomarkers.

However, for the company and its investors, the commercialization of Metastron - and its generic twin Strontium-89 - is a top focus. Q BioMed has said it expects the drug to generate revenues of $25 million to $50 million annually in the next 3 years. 

The company is also planning a Phase IV clinical trial for Metastron and the company hopes the drug may even treat bone cancer, potentially generating $250 million to $500 million in revenues annually.

Inflection points:

  • Strontium-Chloride 89 - Awaiting FDA approval of contract manufacturer for the generic version of Metastron and eyeing Phase 4 post-marketing study for an expanded therapeutic label in 2020.
  • QBM-001 - Plans to launch a pivotal 18-month clinical trial in the first half of 2020.
  • Uttroside-B - Complete pre-clinical liver cancer study and prepare proof of concept studies in the first half of 2020.  
  • MAN-01 - Initiate pre-investigational new-drug studies for the second half of 2019 and clinical IND trial in the fourth quarter of 2019.
  • Potential up-list to a national exchange in the second half of 2019.

What the CEO says: 

“Q BioMed was formulated as an acceleration company to go and source innovative, undervalued biotechnology assets in the pharmaceutical space (and) bring those in-house, incubate them and accelerate their development,” according to CEO Denis Corin. 

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Q BioMed CEO sees significant capital funding for next 3 years

Q BioMed Inc (OTCMKTS:QBIO) CEO Denis Corin tells Proactive announced that its technology partner, Mannin Research Inc, has received a $7.5 million grant from the German state of Saxony to fund the development of its glaucoma therapies. Corin talked about how the two partners plan to...

1 week, 4 days ago

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