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Focus on Portfolio Monetization and Roll-up Strategy

NEW YORK, October 11, 2022 - Q BioMed Inc. (OTCQB: QBIO), a commercial stage biotechbiotechnology acceleration development company, is pleased to provide an update to its shareholders.

The focus for 2022 is to monetize the current pipeline and build a platform for future growth and value creation. To this end, the Company is expecting to amend its current agreement with Mannin research into an equity stake that will add millions of dollars to is asset base. We believe this transaction will not only add real asset value to the balance sheet but with Mannin’s near-term catalysts and significant non-dilutive funding commitments, we expect this to grow substantially over the next 6 to 24 months. Mannin’s drug platform development program is making solid progress and aims to have a clinical trial in ARDS (acute respiratory disease syndrome) completed in the next 8 months. Data from this trial will support the filings for further indications, including kidney disease and glaucoma. ARDS is only one of three initial indications. Combined, the addressable market for these therapies is over $150 billion a year.

We are now also engaged in a strategic roll-up strategy of our future development platform with emphasis on the rare disease space and other areas where no successful treatments are available. This enables us to focus our resources in an area in which we currently have a presence. Our liver cancer drug candidate, Uttroside B, has already received Orphan Drug Designation. We expect to partner or advance this asset toward the clinic in 2022 and will grow our development platform through in-licensing or acquisition as part of a strategic roll-up. We have several new target transactions under this strategy and look forward to updating our shareholders and other stakeholders in the near term.

The Company is pleased with the ongoing adoption of Strontium in additional hospital systems and 2022 revenue is far exceeding that of 2021 year to date, capital market conditions are making additional investment into the sales effort challenging. We continue to believe that Strontium89 has great potential in the cancer palliation space. We have planned a top-down marketing and sales program that will be implemented once funded and believe this effort will yield the results we are striving toward.

While we believe these corporate activities are building value, we are painfully aware of the dismal performance of our stock. Unfortunately, our cap and debt structure coupled with the general macro-market uncertainty and specifically the biotech market capitulation, has resulted in a valuation for QBIO that is not reflective of the inherent asset value within our portfolio.

Our mission continues to be to solve problems by accelerating the development of important therapies and the availability of those therapies to patients. We have been building a portfolio that we believe has significant value ranging from blockbuster potential drugs to revenue-producing opportunities. Since Q BioMed’s inception 5 years ago, the Company has brought a product to market, started generating revenue, supported the development of a drug platform that addresses major therapeutic markets and developed a new liver cancer chemotherapeutic previously believed to be impossible to synthesize. We are now focused on monetizing our current portfolio and actively growing our asset value through joint venture and acquisition strategies that will roll-up into a high value asset portfolio addressing multi-billion-dollar markets.

Last week we withdrew our registration statement on Form S-1 as we were asked by the Securities and Exchange Commission to do so if we were no longer on planning on executing that transaction. We continue to plan to raise capital to be able to execute but are focused at the moment on realizing a greater valuation through the advancement of our assets and their monetization in the near term.

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

Investor Relations - Landon Capital
Keith Pinder
+1(404) 995-6671 This email address is being protected from spambots. You need JavaScript enabled to view it.