Q BioMed Inc. (OTCQB: QBIO) a biotech acceleration and commercial stage company focused on licensing and acquiring undervalued biomedical assets in the healthcare sector, asset Uttroside B – is expected to receive a patent in the United States, adding to the already issued patents in Korea, Canada and Japan.
| Uttroside B Has Shown Promising Results in Initial Pre-Clinical Testing NEW YORK, Feb. 10, 2023 /PRNewswire/ -- Q BioMed Inc. (OTCQB: QBIO) a biotech acceleration and commercial stage company focused on licensing and acquiring undervalued biomedical assets in the healthcare sector, asset Uttroside B – is expected to receive a patent in the United States, adding to the already issued patents in Korea, Canada and Japan. In addition, recent results from pre-clinical pharmacokinetic testing have been very encouraging and the data supports advancing the program. Uttroside B shows tremendous value in the Liver Cancer Market. Uttroside B has also received Orphan Drug designation from the FDA. The America Cancer Society (www.cancer.org) reported in this year alone, an estimated 42,000 adults in the United States will be diagnosed with primary liver cancer. It is also estimated that 30,000 deaths from this disease will occur this year. The 5-year survival rate is 20%, compared to just 3% 40 years ago. For the 44% of people who are diagnosed with liver cancer at an early stage, the 5-year survival rate is 34%. There is significant demand for better therapeutic alternatives in the space. Q BioMed announced in 2021 that it has received Orphan Drug Status from the FDA. Q BioMed Inc. is prosecuting patents in multiple jurisdictions and has received patents from Canada, Korea and Japan and has now received notice of an allowable patent in the USA. The Patent is titled “Uttroside-B and Derivatives Thereof as Therapeutics for Hepatocellular Carcinoma (HCC)”. Q BioMed has the exclusive rights to the technology through an agreement with the Rajiv Gandhi Centre for Biotechnology, an Autonomous Institute under the Department of Biotechnology, Government of India, and the Oklahoma Medical Research Foundation. The global liver cancer drug market size was valued at US$824 Million in 2020 and is anticipated to grow at a CAGR of 29.4% during forecast period 2021 to 2030. In early pre-clinical investigation Q BioMed’s Uttroside-B showed ten times the cytotoxicity against HCC, which is the toxicity caused due to the action of the chemotherapeutic agent on living cancer cells, as compared to the current standard of care drug at the time. Currently, there are only two approved first-line mono therapies and a combination first-line therapy for HCC. Challenges with current treatments include patients becoming resistant to the specific drugs, adverse side effects, and high costs. About Q BioMed Inc. Q BioMed Inc. is a biotech acceleration and commercial stage company focused on licensing and acquiring undervalued biomedical assets in the healthcare sector. Q BioMed provides these target assets the strategic resources, developmental support, and expansion capital needed to ensure they meet their developmental potential, enabling them to provide products to patients in need. Please visit http://www.QBioMed.com and sign up for regular updates. Q BioMed Media Contact: Denis Corin CEO Investor Relations Contact: Landon Capital Forward-Looking Statements: 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. Investor Relations Contact: Landon Capital
SOURCE Q BioMed Inc. | ||
Company Codes: OTC-BB:QBIO, OTC-QB:QBIO |
View original content:
