SOURCE Q BioMed Inc
Company Closes $1,000,000 in Notes and Securities Purchase Agreements
NEW YORK, February 4, 2016 /PRNewswire/ --
Q BioMed Inc. (OTCQB: QBIO), a biotechnology acceleration company is pleased to provide the following update on recent corporate developments.
Over the last 3 months we have significantly increased our cash position through several convertible note and securities purchase agreements exceeding $1,000,000. As a result, we have positioned ourselves to execute on the initial commitments under our Mannin Research Inc. license agreement and expect that development to continue on schedule.
Mannin’s leading technology platform, MAN-01, is moving forward as planned with molecule optimization and the asset development program is being finalized.
Mannin has also been accepted as one of three companies to the Chicago-Canada Mentorship Program (C2MP).
The C2MP program is a tailor-made mentoring program focused on life science innovators. In partnership with the Chicago Innovation Mentors (CIM@MATTER) organization, the Canadian Trade Commissioner Service will catalyze and accelerate technology commercialization opportunities in the Chicago area by matching experienced and supportive mentoring teams with early stage innovators.
Mannin was selected to take part in the program so as to accelerate the development and commercialization of Mannin’s lead indication, MAN-01 for Primary Open-Angle Glaucoma.
CIM@MATTER was established in 2010 based on the VMS program at the Massachusetts Institute of Technology. CIM@MATTER has seven member institutions, and nearly 200 mentors as part of its innovation network.
The C2MP program will provide Mannin with a mentor and a group of advisors from a team of life science and business professionals within the CIM@MATTER team and dedicated support from the Trade Commissioner Service of Canada.
Mannin’s CEO, Dr. George N. Nikopoulos stated, “We are thrilled to be a part of the program. We see the value in the acceleration process as it relates to our development and commercialization milestones. We thank the Canadian Trade Commissioner Service in Chicago for their support and look forward to a successful program.”
In January 2016, Mannin participated in the Glaucoma 360 New Horizons Forum conference in San Francisco, organized by the Glaucoma Research Foundation. The conference is a unique gathering of CEOs from startup companies, industry executives, ophthalmic leaders and venture capitalists seeking to speed the translation of new ideas to improved therapies for glaucoma patients.
In January 2016, members of the QBIO management team attended and presented at the BioTech Showcase around the JP Morgan healthcare conference in San Francisco. The conference was very productive and our presentation was well attended. The focus of the meeting was to further expose the QBIO brand and business to potential partners both in technology development and capital raising.
Our management and our team of advisors are actively conducting due diligence and asset development assessment on several new technologies and products. It is our goal to have at least 3 asset transactions completed this year to expand and broaden our pipeline into other indications in various stages of development.
We invite our shareholders and interested parties to subscribe to our email list and stay informed on our website at http://www.qbiomed.com and follow us on the social media feeds we use.
About Q BioMed Inc.
Q BioMed Inc. “Q” is a biomedical acceleration and development company. We are focused on acquiring companies and biomedical assets. Q is dedicated to providing these target companies and assets, strategic resources, developmental support, and expansion capital to ensure they meet their developmental potential enabling them to provide products to patients in need?.
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.
Contact:
Denis Corin
CEO
Q BioMed Inc.
1-888-357-2435
