Q BioMed Inc. (OTCQB:QBIO) said it has received a patent in the US and a notice of allowance in Europe for the Uttroside B chemotherapeutic asset, adding to the already issued patents in Korea, Canada and Japan, which the company says shows tremendous value in the liver cancer market for the asset and which also has Orphan Drug designation from the US Food and Drug Administration (FDA).
The biotech acceleration and commercial stage company said it has exclusive rights to the technology through an agreement with the Rajiv Gandhi Centre for Biotechnology, an Autonomous Institute under the Department of Biotechnology, Government of India, and the Oklahoma Medical Research Foundation.
As well, Q BioMed said it is engaged in finding strategic opportunities to best preserve and create value for its shareholders.
"We believe in the inherent value we have created in our pipeline,” Q BioMed CEO Denis Corin said in a statement.
“With the assistance of bankers and funding partners we are evaluating strategic opportunities including financing, mergers, and asset joint ventures or sale of assets in order to maximize value for our shareholders in a very difficult market,” he added.
QBioMed noted it has an equity stake in Mannin Research valued at about US$3.5 million, which it expects will increase significantly as Mannin advances its programs assisted by non-dilutive government funding already amounting to over $15 million and which could exceed $100 million over the next year.
The company added that it also has an approved non-opioid cancer pain palliation asset that is an effective therapeutic, which it believes can save hospitals millions of dollars in economic outcome improvements.
Thus, QBioMed said it believes its assets are far more valuable than its current market cap and is determined to find a way to recognize that value for its shareholders.
Q BioMed is a biotech acceleration and commercial stage company focused on licensing and acquiring undervalued biomedical assets in the healthcare sector.
The company 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.
Contact Sean at sean@proactiveinvestors.com