Proactive Investors - Run By Investors For Investors

Q BioMed pulls trigger on catalyst-rich year as it brings in US$5.48mln from offering

The firm issued over 1.71mln units consisting of one share and one warrant at US$3.20 per unit
Q BioMed pulls trigger on catalyst-rich year as it brings in US$5.48mln from offering
The firm licenses and acquired biomedical assets from across the healthcare spectrum

Biotech-accelerator firm Q BioMed Inc (OTCMKTS:QBIO) has brought in US$5.48mln from the previously announced public offering.

The firm issued over 1.71mln units consisting of one share and one warrant at US$3.20 per unit.

The cash means the firm can execute the following milestones:

The commercialisation of the group's licenced FDA approved drug, Strontium Chloride 89 (SR89) for the treatment of skeletal pain associated with metastatic cancers.

Initiating the planning and IND filing for a Phase 4 post-marketing study to expand the indication of the approved SR89, labelling it as chemotherapeutic (a cancer therapy) for skeletal metastases, significantly improving the revenue potential for the drug.

The filing of an IND for a pivotal phase ll/lll clinical program to test the efficacy of QBM-001, a pro-drug for the treatment of young children with a rare autistic spectrum disorder that severely inhibits their ability to communicate.

Continued R&D (research and development) on its novel chemotherapeutic drug for liver cancer.

"This capital sets up a catalyst-rich year for us. We look forward to a productive year ahead as we start to meet the milestones and goals we set ourselves from the founding of the company in 2015," said Denis Corin, the chief executive at Q BioMed.

Q BioMed  shares shed 5.57% to US$3.73.

View full QBIO profile View Profile

Q BioMed Inc Timeline

Related Articles

CBD oil
November 15 2018
The company’s technology creates nano-scale emulsion mixtures that allow fluids to mix that normally don’t mix, such as CBD oil and water
myLotus testing kit
October 31 2018
The launch at the Fertility Show in London at the start of November is the first step in a switch in focus brought about by new executive chairman Matthew Walls
Widecells
September 27 2018
WideCells has undertaken a review of the business to deliver a strategy that will generate revenue, reduce overheads and achieve profitability

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use