NEW YORK, June 15, 2017 /PRNewswire/ --
Q BioMed Inc. (OTCQB: QBIO), is very pleased to announce their entry into a final license agreement with The Oklahoma Medical Research Foundation (OMRF) and the Rajiv Gandhi Centre for Biotechnology (RGCB). Under the agreement QBioMed has the global exclusive rights to develop and market a novel chemotherapeutic drug to treat liver cancer.
The compound was isolated and characterized from the leaves of Solanum nigrum Linn, or black nightshade, a plant widely used in traditional medicine.
In animal models, the compound, called uttrocide B, was shown to be 10 times more cytotoxic to HepG2 liver cancer cells than the only drug currently on the market for the condition.
"Our ultimate goal is to use uttrocide B as a chemotherapeutic against liver cancer, which has very few therapeutic options," said Q BioMed, Inc., CEO Denis Corin.
RGCB researchers identified the therapeutic effect of the compound and then entered into collaboration with OMRF to further develop and commercialize it. In animal models, uttrocide B was shown to be more potent than the currently available drug for the disease and caused no noticeable side effects.
"We are excited at the prospect of developing a drug that could address a significant unmet medical need and benefit patients", said Dr. M.R.Pillai, Director of RGCB.
Liver cancer is the second most common cause of cancer deaths worldwide, according to the Centers for Disease Control and Prevention, and claims approximately 750,000 lives each year. The American Cancer Society estimates that 39,000 people in the U.S. will be diagnosed with primary liver cancer in 2017 and that 27,000 will die from the disease this year.
"This is truly an unmet need in liver cancer," said OMRF Vice President of Technology Ventures, Manu Nair. "To find a plant-based treatment for a condition like liver cancer can open the door to a wide variety of other natural products for treating human disease."
OMRF (omrf.org) is an independent, nonprofit biomedical research institute dedicated to understanding and developing more effective treatments for human diseases. Its scientists focus on such critical research areas as cancer, diseases of aging, lupus and cardiovascular disease.
RGCB is an autonomous national institution fully-owned by the Government of India. It does pioneering research in cellular and molecular mechanisms of human animal and plant disease by amalgamating theory, modeling, simulation and experimental science.
About Q BioMed, Inc.
Q BioMed, Inc., (Q) is a biomedical acceleration and development company. We are focused on licensing and acquiring biomedical assets across the healthcare spectrum. Q is dedicated to providing these target assets the strategic resources, developmental support and expansion capital they need to ensure they meet their developmental potential, enabling them to provide products to patients in need.
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
Dennis Corin, CEO
Q BioMed Inc.
SOURCE Q BioMed Inc.