The New York-based Biotech accelerator, Q BioMed Inc. (OTCQB:QBIO) saw its shares rise 10.96%, to $4.05 each. Of its latest four projects in the works, the most ‘revenue ready’ is the Strontium Chloride 89 (SR89) which is aimed at treating cancer bone pain. The pain palliation market’s worth in the U.S. is estimated to be around $300 million annually.
Due to recent natural disasters in the Gulf region, the company states it has faced minor delays in the launching of the drug. It holds its logistical operations and manufacturing in both Florida and Texas but expects by mid-January to have a new facility up and functioning, pending FDA facility review. Once the review is complete Q BioMed expects to roll out commercial sales shortly after.
Another project the accelerator is working on is a nonverbal toddler disorder drug, which studies have found affects 1 in 100 children within the U.S. The group is in the final drug analog which is now finishing its pre-clinical testing. The company expects it to be complete Q1 2018 and will begin its clinical trial. Q BioMed Inc is already in talks with clinical sites around the U.S and Europe for the study.
Another drug set to have its final analog ready Q1 2018, is the company’s new chemotherapeutic liver cancer drug. The group expects the validation to occur in that time frame and will immediately submit an IND (investigational new drug) for a phase one clinical trial, looking to begin in late 2018.
In regards to their MAN 01 eye drop for glaucoma, Q BioMed said it is in the stages of completing development on the optimal delivery and absorption of a small molecule that would be delivered topically to treat Primary Open Angle Glaucoma. The company’s proof-of-concept is set for mid-2018 and hopes to roll out a clinical trial by 2019.
Ending the year, the accelerator has cleared all of its outstanding debt and is moving into 2018 with a clean balance sheet. Q BioMed Inc told its investors that it anticipated having a very catalyst-rich 2018.
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