Revenue up 600% in 2021 and 100% in Q4
Nasdaq Listing Expected in Jan 2022
NEW YORK, December 16, 2021 - Q BioMed Inc. (OTCQB: QBIO), a commercial-stage biotech company, provides this update to shareholders with positive trend in revenues, advancement in pipeline assets and imminent uplisting to Nasdaq.
The company is pleased to report that year-over-year revenue is up by over 600% and Q4 up over 100% over Q3. This uptrend is a very positive sign as we continue to roll out our Strontium89 commercial program. This year we received full reimbursement from Medicare and Medicaid, were approved as a federal supplier, and engaged a Federal Sales team working mostly with the U.S Departments of Veterans’ Affairs, the DOD, and Indian Health Services. We have recently retained Eversana to partner on the institutional sales efforts and expect to deploy in field sales reps early in 2022 once funding and uplisting are complete.
We continue our international registration program and hope to get approvals in several international jurisdictions during 2022. We have already identified and contracted with a few international distribution partners in anticipation of approval in those countries.
Mannin Platform Drugs for ARDS, Glaucoma, Kidney Diseases and others
With the uptake of vaccines for COVID-19 growing, the infection numbers are still soaring around the world due to new variants and communities growing apathy and resistance to mandates and social restrictions. Together with Mannin Research Inc., our technology partner, we are pursuing a treatment for Acute Respiratory Distress Syndrome, the condition that causes the most severe symptoms in COVID patients usually resulting in hospitalization and death. The treatment is not dependent on targeting any specific viral variant but rather is virus agnostic, which we believe makes it an invaluable treatment for Corona viruses and other viral diseases like influenza, pneumonia and any future viral pandemic outbreaks. Therefore, a successful infectious disease application in COVID-19 could position Mannin’s recombinant fusion therapeutic MAN-19 as a potential government stockpile drug. As an indication of the importance of this program, Mannin is one of only a handful of Canadian companies to have received government funding support for the development of this important therapeutic. The drug has successfully passed a proof of concept study and is in the final stages of GMP manufacturing to allow for final toxicology studies and then clinical trials slated for early 2022. Furthermore, a successful clinical trial with MAN-19 in COVID-19 patients would provide the clinical dataset to quickly support the development of therapeutics for other vascular diseases such as sepsis, acute kidney injury, chronic kidney disease and of course glaucoma. All of these are large markets with significant potential and could result in multiple commercialization or licensing opportunities in the next 3 to 6 months.
UTTROSIDE B - Liver Cancer Chemotherapeutic
Along with our developmental partners, we are advancing an innovative treatment for liver cancer, a disease indication that currently has a high unmet need. Currently, there are only two approved first-line therapies. We have received Orphan Drug Designation and we are now preparing to advance this toward IND application with the FDA. We have received interest in partnering this asset and although nothing formal has been agreed to, we hope to have some additional news related to this in the near future.
QBM-001 - Early Stage Treatment for young minimally verbal children on the Autism Spectrum
While our immediate focus is on the above-mentioned assets, we are also developing a new drug candidate to treat young children with pediatric minimally verbal autism. The advancement of this program will depend on the availability of funds and resources as we prioritize our clinical development milestones. There is no effective treatment available to help an estimated 250,000 children born with the condition worldwide each year, 20,000 of them in the United States. We are working on a discovery and development program to address this highly unmet need.
Corporate Strategic Goals
Our mission is to solve problems by accelerating the development of important therapies and the availability of those therapies to patients. Since Q BioMed's inception 5 years ago, we have been busy building significant value ranging from blockbuster potential drugs to revenue-producing opportunities. It is disappointing to see the deep pipeline we have in very large markets go undervalued. Each of the opportunities we are advancing has significant potential in multi-billion dollar markets. We are driving forward with our revenue-generating drug, Strontium89, but the latent value in the rest of the pipeline far exceeds the value in the Strontium89 market. The potential markets in the Mannin platform alone could exceed several billion dollars over the next 2 to 3 years. A successful therapeutic for ARDS in the current pandemic environment could be a blockbuster on its own. We have clearly failed to communicate the opportunity that currently exists to our shareholders and the market, but we will not stop trying and will learn from our mistakes in the immediate future. In addition, we are evaluating one or two more assets in the rare disease space where there are currently no competitive drugs on the market. This rare disease franchise within QBioMed could make for a very valuable addition to the portfolio.
We are in the advanced stages of our planned Uplisting to Nasdaq in conjunction with funding to support our operations for the next 12-18 months. We anticipate this to occur in January 2022.
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About Q BioMed Inc.
Q BioMed Inc is a biotech acceleration and commercial-stage company. Q BioMed is 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.
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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