Q BioMed Inc said its MAN-19 therapeutic, which it is developing with partner Mannin Research, is poised to start clinical trials in 2022.
The MAN-19 therapeutic is a recombinant fusion protein and is being assessed to treat acute respiratory distress syndrome (ARDS), which is caused by viral infections in the lungs including coronavirus (COVID-19). It has shown promise with preclinical testing.
"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," said Dr. George N. Nikopoulos, CEO of Mannin Research Inc, who said he had seen "the need for novel therapeutics for hospitalized COVID-19 patients" and had himself recently recovered from severe COVID-19.
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Denis Corin, CEO of Q BioMed, added: "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."
Q BioMed 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 $200 million over the next 24 months, it said.
Q BioMed Inc is a biotech acceleration and commercial-stage company focused on licensing and acquiring undervalued biomedical assets in the healthcare sector.
Contact the writer at giles@proactiveinvestors.com