NEW YORK, June 1, 2018 /PRNewswire/ —
Q BioMed Inc. (OTCQB: QBIO), a biotechnology acceleration company, placed second in the ‘company category’ at this year’s Bay Area Autism Speaks Walk. The fundraiser provided Q BioMed an opportunity to connect with and better understand the autism spectrum disorder (ASD) community as the company progresses with QBM-001, which is being developed to treat pediatric developmental nonverbal disorder in toddlers with ASDs.
“We gave it an all-out team effort to support the autism community, and we are happy to support Autism Speaks’ efforts to raise awareness and educate, fund research, and support patients and caregivers,” explained Denis Corin, CEO of Q BioMed. “Participating in events like the Autism Speaks Walk builds bridges with the community and helps us better understand how to support these individuals and families as we advance our project.”
Q BioMed dedicated its walk to a subgroup of ASDs that QBM-001 is being developed to treat within the nonverbal or minimally verbal spectrum. “We want to be a positive force for this group, not only with our potential treatment, but also with everything we do. This is just the start of many good things to come,” Corin continued.
QBM-001 has been developed to target multiple mechanisms of action that will help address chemical imbalances that have been correlated with impaired language development at elevated levels. Q BioMed intends to initiate a registration trial with the treatment by the beginning of 2019.
About Pediatric Nonverbal Developmental Disorder in the Autism Spectrum Disorder
There are approximately 20,000 new cases of pediatric developmental nonverbal disorder in the United States (US) each year and a similar amount in Europe. The majority of the affected children are diagnosed as toddlers and are diagnosed with autism. Individually, the economic costs for toddlers that become non- or minimally verbal is ten million on average per person over their average life of 40 years. Collectively, an estimated 200 billion dollars is spent yearly on individuals who have become nonverbal in the US alone. While not all individuals who become nonverbal may benefit from QBM-001, testing by trained specialists along with blood tests and genetic testing, could identify a targeted population that may respond to treatment.
About Q BioMed Inc.
Q BioMed Inc. is a biomedical acceleration and development company. We are focused on licensing and acquiring undervalued biomedical assets in the healthcare sector. Q BioMed is dedicated to providing these target assets, strategic resources, developmental support, and expansion capital to ensure they meet their developmental potential, enabling them to provide products to patients in need.
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained herein to reflect any change in our expectations or any changes in events, conditions, or circumstances on which any such statement is based, except as required by law.
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SOURCE Q BioMed Inc.