Several International Market Authorisations Expected in Q4 Expanding Access to South and Central America and Asia
NEW YORK, September 15, 2020 - Q BioMed Inc. (OTCQB: QBIO), a commercial stage biotech company, announces initial commercial uptake of Strontium89, its FDA approved drug for the non-opioid treatment of metastatic cancer in the bone.
Q BioMed announced the US-based launch of Strontium89 (Strontium Chloride Sr-89 Injection, USP), in Q1 of this year. The COVID-19 pandemic slowed the diagnosis and treatment of cancer in many patients throughout spring and into summer, and severely limited the industry’s access to physicians due to restrictions on access and availability. Despite these challenges, the reintroduction of Strontium89 has received a warm response and enthusiasm from physicians who are pleased that it is once again available for the benefit of their patients.
There are now free-standing clinics in at least 8 states that are undergoing the required operational steps to become a ‘Strontium89 practice’, including having it on their radioactive materials license, with several clinics already up and running with patients being treated. Beginning in October, treatment with Strontium89 in the hospital out-patient setting will be fully reimbursed by Medicare and Medicaid, at which point Q BioMed expects to see hospitals more actively treat patients as well.
Q BioMed is deploying a robust multi-channel marketing campaign, driving awareness amongst its target audiences, both on the physician and the patient side. The Company will exhibit Strontium89 at several conferences including ASTRO (American Society of Therapeutic Radiation Oncology) and ONS (Oncology Nursing Society) and will begin speaker programs later this fall. Virtual and live sales calls have been ongoing since June within the confines of COVID-19 access and expanded field force efforts are planned for Q4 2020.
In September, Q BioMed launched its international ‘Named Patient’ program that enables physicians worldwide to order Strontium89 for their patients in need, and the response to this program has been robust with orders already taken in the UK and orders pending from at least 7 other countries. The regulatory registration process for full commercial access in the EU has commenced, with pan-EU approval expected by end of year. In parallel, Q BioMed is midway through the registration process in many other countries, with approvals expected to begin in October and continue through Q1 of 2021.
“We anticipate revenues from Strontium89 to continue to ramp up significantly from our baseline in Q2 as we build capacity and demand worldwide. Looking towards 2021, we are assessing several potential clinical trial programs that may expand the indication beyond palliation into a therapeutic use that may increase patient survival, accessing the much larger therapeutic market,” stated Q BioMed CEO Denis Corin.
About Q BioMed Inc.
Q BioMed Inc. is a biotech acceleration and commercial stage company focused on licensing and acquiring undervalued biomedical assets in the healthcare sector. Q BioMed is dedicated to providing these target assets the strategic resources, developmental support, and expansion capital needed to ensure they meet their developmental potential, enabling them to provide products to patients in need.
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