Media banner

Video &  Social Media

Watch us in interviews. Follow us.

Company converts future royalty into 15% equity in multi-billion dollar potential product portfolio with additional $20M royalty

New York, New York - November 14, 202 - Q BioMed Inc. (QBIO)), Q BioMed Inc. (QBIO), a commercial stage biotechbiotechnology acceleration development company, a commercial stage biotechnology acceleration development company, is pleased to announce that it has converted its long-term royalty agreement into an equity stake in Mannin Research Inc. (MRI), a private Canadian controlled biotechnology company, based in Toronto, Ontario, Canada. The conversion results in two key outcomes: QBIO receives a 15% equity stake in the form of common shares in MRI at a current valuation of MRI at CAD$30 million, and a royalty payment of $20 million on realization of future net sales.

QBIO expects the value of its investment to increase, due to quantifiable near-term and medium-term catalysts, including the signing of commercialization agreements by MRI, and completion of clinical milestones as part of its drug development program. In addition, utilizing MRI’s internal pro-forma revenue projections for 2023 & 2024 and comparable market transactions, MRI’s drug development pipeline and companion diagnostics, are estimated to achieve a net present value close to the billion-dollar mark as it moves from its near-term clinical milestones to commercial revenues.

To support its critical path to commercial success, MRI has already accessed over CAD$30M in non-dilutive capital from government funding sources with significantly more expected over the next 18 months. This funding has greatly de-risked the earlier stages of development, providing an accelerated path to market, and enabling the completion of technical milestones that in turn support the achievement of commercial milestones. This dependable cycle of investment and de-risking has added significant value to QBIO’s investment. Lastly, QBIO’s only obligation to contribute to future R&D expenditures in this platform totals USD$1.5million.

MRI’s drug development pipeline is positioned to be a multi-billion dollar blockbuster franchise for years to come. The pipeline includes two therapeutic modalities: large molecule (recombinant protein therapeutic) and small molecule drugs. The MRI pipeline addresses the unmet needs for patients in three initial indications: glaucoma, kidney disease, and ARDS.

The common thread for all three diseases is the treatment of an underlying vascular dysfunction that can be ameliorated by targeting the Ang1-Tie2 mechanism of action. In a context dependent manner, MRI has developed a series of drugs, as well as companion diagnostics for glaucoma and ARDS, respectively, to address the unmet needs of these patients.

Denis Corin, QBioMed CEO says, “The value of our investment into the Mannin pipeline to date is not recognized at all on our balance sheet. The conversion of our agreement to this value-based equity ownership allows us to immediately recognize approximately CAD$5.0 million in shareholder equity and we anticipate this value to grow substantially over the next 12 months. Our investment has contributed to the development of a blockbuster franchise of drugs and companion diagnostics addressing millions of patients with significant unmet needs. We expect this to translate into a very significant return on our investment capital.” He continued, “Mannin has a portfolio of drugs that has a total addressable market of over $150 billion per year. Multiple large pharma companies have indicated interest in bringing the Mannin drugs to patients in markets around the world. We expect that at least one major strategic deal will be announced by Q1 of 2023 and additional transformative economic transactions later in 2023, further validating the MRI drug pipeline and its blockbuster potential. These would be very significant value creating events for both QBIO and Mannin shareholders. QBIO is so proud to have been an integral part of this development from the beginning.”

Dr. George N. Nikopoulos, President & CEO Mannin Research Inc., “Our team at Mannin has believed in our technology platform from the early days with Dr. Susan Quaggin’s leadership as our founding CSO. Transition to today’s news and our new incoming CSO from big pharma, new and experienced management team, and a board of directors with years of experience in bringing drugs to market, Mannin has been able to bring together a best-in-class team,” said Dr. Nikopoulos. He continued, “Together we believe our first-in-class group of therapeutics will make a real difference in the lives of patients suffering from ARDS, glaucoma, and kidney disease, which is really why we do what we do. We were proud to partner with QBIO from the start and are grateful for their investment in us and what they have contributed to our progress. We are equally happy to complete this conversion so that we can better communicate the value that QBIO has in Mannin and its future success.”

About Q BioMed Inc.

Q BioMed aims to accelerate the monetization of biomedical technologies through rapid innovation and collaborative partnerships with industry leading researchers. Q BioMed believes its assets in oncology, vascular disease, and rare orphan diseases address unmet medical needs and large markets.

For more information please visit

About Mannin Research Inc.

Mannin Research Inc. is a Canadian private biotechnology company, headquartered in Toronto, Ontario. It conducts research and development on innovative new drugs, therapeutics, and diagnostics. The company mission is to drive innovation in life sciences to make a difference in healthcare globally.

For more information please visit

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.