Q BioMed Inc has outlined its strategic directions and goals for 2022 that call for increasing revenues as the biotech seeks to monetize its current pipeline of products and platforms.
“From inception our goal has been to identify assets and advance them to a point where they can return value to our shareholders,” the company said in a statement. “Over the last 5 years, we have built a pipeline of assets in the biotech space and invested resources in advancing them towards monetization.”
The company said the focus for 2022 is to monetize the current pipeline and build a platform for future growth concentrated on four factors: commercial product revenue growth, partnerships, joint venture equity, value and future development platform.
READ: Q BioMed says it is seeing a ‘significant uptrend’ in revenues as it continues to roll out Strontium89
Q BioMed also said part of that focus includes uplisting to the Nasdaq to raise the needed capital to help carry out its mission.
“Each opportunity we are advancing has significant potential in multi-billion-dollar markets. Like all biotech companies, we require capital to advance these assets until value is realized,” the company said.
“We believe we are very close to seeing those returns start to come to fruition. We will raise capital to advance on all fronts and make our intended move to the Nasdaq Capital Market. Given our low market cap we are assessing the most beneficial strategy to make that move in the best interest of the company and its shareholders. We have never been more confident in our strategy!”
Strontium89
The company said other goals for 2022 include advancing its commercial product Strontium89 to treat metastatic cancer in the bone.
The company said the necessary infrastructure required to bring it to market has been completed, including manufacturing, branding, pharmacovigilance, reporting, federal supply contract, distribution agreements in US and now in several international countries. Currently, a sales team has been assembled to promote the drug both in federal and non-government institutions and clinics.
It added that it expects revenues to grow steadily and over the next 12-18 months, as the Strontium89 commercial asset will be become "a profit center".
UTTROSIDE B
The company is also looking at partnership opportunities to advance its UTTROSIDE B as a liver cancer chemotherapeutic. This molecule was identified in India and has shown promise in killing cancer cells.
“We expect this asset to contribute to value creation in 2022.,” the company said. “Currently, there are only two approved first-line liver cancer therapies. We have received Orphan Drug Designation and we are now preparing to advance this toward clinical partnership.
Mannin joint venture
The company said its investment in the Mannin Platform is now reaching a major developmental milestone as it works on converting the future economics and royalty-based return into an equity position.
It also said the potential markets in the Mannin Platform -- which includes treatments for COVID-19, glaucoma, kidney diseases, and others -- could exceed several billion dollars over the next 2 to 3 years.
“Together with Mannin we are pursuing a treatment for acute respiratory distress syndrome (ARDS), the condition that causes the most severe symptoms in COVID patients usually resulting in hospitalization and death,” the company said. “The drug has successfully passed a proof-of-concept study and is in the final stages of GMP manufacturing to allow for final toxicology studies and then clinical trials slated for early this year.”
Furthermore, the company said a successful clinical trial with MAN-19 in COVID-19 patients would provide the clinical dataset to quickly support the development of therapeutics for other vascular diseases such as sepsis, acute kidney injury, chronic kidney disease, and glaucoma.
“All of these are large markets with significant potential and could result in multiple commercialization or licensing opportunities in the next 3 to 6 months,” the company said.
Development platform with rare disease focus
During 2022, Q BioMed said it will target the Rare Disease Space with its Uttroside-B, which has already received Orphan Drug Designation. The company expects to form a partnership in mid-2022.
“This platform will also complement our early-stage treatment for young minimally verbal children on the Autism Spectrum,” the company said.
“We are also developing a new drug candidate to treat young children with pediatric minimally verbal autism. The advancement of this program will depend on the availability of funds and resources as we prioritize our clinical development milestones.
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