Order Represents a small fraction of the overall market
NEW YORK, March 7, 2021 — Q BioMed Inc. (OTCQB: QBIO), a commercial stage biotech company, announced today that it has received a confirmed $500,000 order for Strontium Chloride USP Injections under a recently inked supply contract between Q BioMed, isoSolutions Marketing and Management (our Canadian distribution partner) and Chinese radiopharmaceutical company, Chengdu Syncor Pharmaceutical Co. Ltd. The agreement is the first of what is expected to be a high-growth named patient opportunity to supply Strontium89 in the Chinese market. Chengdu Syncor is an A-list radiopharmaceuticals supplier founded by Cadillac (United States) in 1999, devoted to providing high-quality radionuclide products to its customers throughout China. The Chinese market is currently demanding 12,000 doses a year (growing 10% a year) from 2 local government run manufacturers. This order represents a small fraction of that opportunity.
QBioMed expects to begin shipping doses in April once all logistics are in place and will continue through 2023.
Strontium89 is an FDA-approved, non-opioid radiopharmaceutical indicated for the treatment of painful skeletal metastases caused by cancer and is agnostic of the primary tumor. Common primary tumors that metastasize to the bone include prostate, breast, and lung, as well as others.
Learn more at www.Strontium89.com
Please see full Prescribing Information for Strontium-89 Chloride Injection.
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.
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Forward-Looking Statements:
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.
Q BioMed Media Contact:
Denis Corin
CEO
Investor Relations:
Keith Pinder
+1(404) 995-6671
This email address is being protected from spambots. You need JavaScript enabled to view it.
Chengdu Syncor Contact:
Chen Yahong
Chengdu Syncor Pharmaceutical Co Ltd
No. 3081, Konggang Rd. 4th Southwest Airport Economic Development Zone
Shuangliu, Chengdu, China 610200
Tel./ Fax.: +86-28-85906099
isoSolutions Contact:
Susan Ireland
125A – 1030 Denman Street, Suite 329, Vancouver, BC V6G 2M6, Canada
Tel: +1-604-669-7277 / Fax: +1-604-909-2720