Q BioMed Inc. (OTCQB: QBIO), a commercial stage biotechnology acceleration development company, is pleased to provide an update to its shareholders.
| Focus on Portfolio Monetization and Roll-up Strategy NEW YORK, Oct. 11, 2022 /PRNewswire/ -- Q Biomed Inc. (OTCQB: QBIO), a commercial stage biotechnology acceleration development company, is pleased to provide an update to its shareholders. The focus for 2022 is to monetize the current pipeline and build a platform for future growth and value creation. To this end, the Company is expecting to amend its current agreement with Mannin research into an equity stake that will add millions of dollars to is asset base. We believe this transaction will not only add real asset value to the balance sheet but with Mannin’s near-term catalysts and significant non-dilutive funding commitments, we expect this to grow substantially over the next 6 to 24 months. Mannin’s drug platform development program is making solid progress and aims to have a clinical trial in ARDS (acute respiratory disease syndrome) completed in the next 8 months. Data from this trial will support the filings for further indications, including kidney disease and glaucoma. ARDS is only one of three initial indications. Combined, the addressable market for these therapies is over $150 billion a year. We are now also engaged in a strategic roll-up strategy of our future development platform with emphasis on the rare disease space and other areas where no successful treatments are available. This enables us to focus our resources in an area in which we currently have a presence. Our liver cancer drug candidate, Uttroside B, has already received Orphan Drug Designation. We expect to partner or advance this asset toward the clinic in 2022 and will grow our development platform through in-licensing or acquisition as part of a strategic roll-up. We have several new target transactions under this strategy and look forward to updating our shareholders and other stakeholders in the near term. The Company is pleased with the ongoing adoption of Strontium in additional hospital systems and 2022 revenue is far exceeding that of 2021 year to date, capital market conditions are making additional investment into the sales effort challenging. We continue to believe that Strontium89 has great potential in the cancer palliation space. We have planned a top-down marketing and sales program that will be implemented once funded and believe this effort will yield the results we are striving toward. While we believe these corporate activities are building value, we are painfully aware of the dismal performance of our stock. Unfortunately, our cap and debt structure coupled with the general macro-market uncertainty and specifically the biotech market capitulation, has resulted in a valuation for QBIO that is not reflective of the inherent asset value within our portfolio. Our mission continues to be to solve problems by accelerating the development of important therapies and the availability of those therapies to patients. We have been building a portfolio that we believe has significant value ranging from blockbuster potential drugs to revenue-producing opportunities. Since Q BioMed’s inception 5 years ago, the Company has brought a product to market, started generating revenue, supported the development of a drug platform that addresses major therapeutic markets and developed a new liver cancer chemotherapeutic previously believed to be impossible to synthesize. We are now focused on monetizing our current portfolio and actively growing our asset value through joint venture and acquisition strategies that will roll-up into a high value asset portfolio addressing multi-billion-dollar markets. Last week we withdrew our registration statement on Form S-1 as we were asked by the Securities and Exchange Commission to do so if we were no longer on planning on executing that transaction. We continue to plan to raise capital to be able to execute but are focused at the moment on realizing a greater valuation through the advancement of our assets and their monetization in the near term. About Q BioMed Inc. Please visit http://www.QBioMed.com and sign up for regular updates. Forward-Looking Statements: Q BioMed Media Contact:
SOURCE Q BioMed Inc. | ||
Company Codes: OTC-BB:QBIO, OTC-QB:QBIO, OtherOTC:QBIO |
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