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Q BioMed announced a securities purchase agreement with Aedesius Holdings Ltd, enabling the purchase of about 43% of QBIO shares for $30 million, structured as an initial $5 million investment and potential additional $15 million by September 30, 2021. The share price is set at $1.25, reflecting a 31% premium. The post-money company valuation will be approximately $58 million, potentially rising to $70 million with warrants exercised. Funds will prioritize Strontium89's sales, advance rare disease portfolios, extinguish debt, and explore new acquisitions.
Q BioMed Inc. (OTCQB: QBIO) has provided an update on its initiatives, highlighting funding of up to CAD$1.7 million from NRC IRAP for the development of therapeutics targeting Acute Respiratory Distress Syndrome associated with COVID-19. This funding complements $7 million previously awarded, supporting ongoing projects in various vascular diseases. The company is also advancing glaucoma treatments with MAN-01 and MAN-11, and has begun the regulatory registration process for commercial access in the EU. Strontium-89 is now reimbursed by Medicare, with plans to expand its market presence.
Q BioMed Inc. (OTCQB: QBIO) has secured a five-year Federal Supply Schedule (FSS) contract for Strontium89, effective March 1, 2021. This agreement enables U.S. veterans and federal agencies to access Strontium89 for treating metastatic bone pain, particularly for prostate, breast, and lung cancers. Veterans are at higher risk for these conditions, with prostate cancer rates in the military at twice that of the general population. The pivotal trial indicated that 79% of patients treated with Strontium89 experienced pain relief, with many having no pain for three months post-treatment.
Q BioMed Inc. (OTCQB: QBIO) has reported the positive initial commercial uptake of Strontium89, its FDA-approved drug for metastatic cancer treatment. Following its Q1 launch, the drug has seen strong enthusiasm from physicians despite the COVID-19 pandemic's impact on cancer care. Strontium89 will be reimbursed by Medicare and Medicaid starting October, encouraging more hospital treatments. Q BioMed is also expanding internationally with a 'Named Patient' program and expects to see revenue increase significantly from Q2 onwards. The company is exploring further clinical trials for potential therapeutic uses.
Q BioMed Inc. (OTCQB: QBIO) has initiated a GMP production contract for MAN-19, a therapeutic aimed at treating complications from COVID-19. The Phase 1 clinical trial is set to begin patient enrollment in February 2021. The development is partially funded by Canadian and German governments, highlighting the urgency of addressing COVID-19 complications. MAN-19 targets the Tie2 receptor and aims to stabilize the vascular endothelium, potentially improving patient outcomes in severe cases. CEO Denis Corin emphasizes the need for effective treatments beyond vaccines.