Q BioMed Inc (OTCQB:QBIO) has announced a supply contract with the US Department of Defense and Veterans Affairs (VA), which will make its cancer bone pain drug available to over 9 million VA beneficiaries.
The biotech has inked a deal for Strontium89 to be included on the Federal Supply Schedule (FSS) for eligible patients.
READ: Q BioMed metastatic bone pain drug Strontium89 made available to 3,000-plus urologists in contract with group purchasing organization UroGPO
"Q BioMed is very encouraged by this important milestone. This agreement further extends the commercial reach of Strontium89 to eligible adult patients suffering pain from metastatic bone cancer in the VA and other federal agencies," said the company’s CEO Denis Corin.
"Q BioMed is committed to helping those who serve and have served their country and their families. It is our hope that, through this agreement, we can make a positive impact on the lives of veterans affected by cancer."
Q BioMed highlighted that veterans are at higher risk for prostate, breast and lung cancer, which are the three most commonly treated with Strontium89 if they become painfully metastatic to the bone.
According to two sources cited by the company, prostate cancer rates in the military are twice those in the general population and military personnel were found to be nearly 40% more likely to develop breast cancer.
The contract is for five years and Q BioMed is preparing to serve the VA and Department of Defense (DoD) with activities that include a VA sales force, formulary and market access, medical education, and marketing.
These efforts will begin in March this year and build throughout the year as the FSS agreement is translated to clinical use, it said.
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