Q BioMed Inc. Updates on COVID-19 Therapeutic Development and Clinical Trials - MAN-19 therapeutic program heading to clinical trial in early 2022
The MAN-19 therapeutic is a recombinant fusion protein that treats the patient, instead of targeting the virus.
NEW YORK, Sept. 22, 2021 /PRNewswire/ -- Q BioMed Inc. (OTCQB: QBIO) a commercial stage biotechnology acceleration company, is pleased to provide an update on its partner asset MAN-19 for the treatment of Acute Respiratory Distress Syndrome (ARDS), a condition caused by viral infections in the lungs including COVID-19.
The MAN-19 therapeutic is a recombinant fusion protein that treats the patient, instead of targeting the virus. It is not a cure for COVID, but it strengthens a patient's blood vessels and protects them against ARDS, breathing problems, sepsis and other infections that may cause the body's organs to begin shutting down. It is designed to keep COVID patients out of the ICU and off a ventilator. Initial manufacturing and preclinical testing has shown promise, and pending upcoming toxicology testing, the drug is poised for clinical trials to start in 2022. If the drug proves both safe and effective, our goal is to have it available for use by patients by early 2023.
Dr. George N. Nikopoulos, CEO of Mannin Research Inc. said, "We are very encouraged by our progress and the results of the preclinical work to date. Our next steps are to complete the final toxicology studies, data aggregation and achieve approval of a Phase 1 clinical trial."
Dr. Nikopoulos also notes, "We know that we have a promising solution for COVID-19 patients suffering from ARDS. This is even more meaningful to me personally, as I have seen the need for novel therapeutics for hospitalized COVID-19 patients, having recently recovered from severe COVID-19 myself."
Denis Corin CEO of Q BioMed said, "This platform was the first co-development deal we did and it is very gratifying to see the hard work and diligence come to fruition. With proof-of-concept complete and clinical trials planned in 2022, we believe there is a significant return on investment in the near term and major milestones to be achieved. The market for this kind of treatment in the current pandemic climate is substantial and global. COVID-19 is not going away any time soon. As a result, there is a need to develop more effective treatments. We believe that our technology will play a role in the broader treatment landscape and not only for Covid, but also for other infectious diseases that cause ARDS.
QBioMed believes that licensing and milestone revenue opportunities for this and related indications in kidney and ophthalmological diseases are possible in the next few months. Conservative estimates based on milestones could reach $200M over the next 24 months.
Partnering with other companies in Canada and Europe, and with the support of what is expected to be more than $20 million USD in funding from Q BioMed and other non-dilutive sources, has resulted in an accelerated drug development timeline.
Q BioMed has committed approximately $10M to the development of the Tie2 platform in exchange for a 50% residual interest in any profits generated from the sale or sub-licensing of the assets, including other candidates for diseases such: glaucoma, kidney diseases, and cardiovascular disease.
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 provides 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.
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Q BioMed Media Contact:
Denis Corin CEO
Investor Relations Contact:
Landon Capital
Keith Pinder
(404) 995-6671
[email protected]
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