PALM BEACH, Florida, March 22, 2017 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The traditionalways to treat pain management for various cancer conditions are being pressured as of late due to the rise of the opioid crisis. Non-narcotic pain therapy for cancer pain management has a dramatic impact on patient's quality of life as Biotech and Pharma
Q BioMed Inc. (OTCQB: QBIO), has closed on its 2nd tranche of the $4,000,000 funding announced on November 30th 2016. The company received $1,000,000 on the 2nd closing bringing the total received to date to $2.5MM. We expect to receive the remaining $1.5MM upon on effectiveness of our recently filed registration statement on Form S-1.
In addition, we are pleased to announce that we have begun process validation for the manufacturing of the non-narcotic analgesic treatment for pain associated with metastatic bone cancer. The drug, generic Strontium Chloride 89 injection, provides long-lasting relief for patients suffering from debilitating bone pain due to metastatic cancer, typically caused by advanced-stage breast, prostate or lung cancer. It has been proven to provide a long-term effect, resulting in cancer pain relief and enhanced quality of life. Read this and more news for QBIO at: http://marketnewsupdates.com/news/qbio.html
There are approximately 350,000 cases of patients living with bone metastases in the U.S. alone. In addition, 380,000 new diagnoses of patients with breast, prostate and lung cancer occur every year and approximately 1 in 3 of those will develop bone metastases.
The delivery of an affordable, non-narcotic pain therapy is a much needed and underutilized option for this patient population and coincides well with the recently passed 21st Century Cures Act combating opiate overuse and abuse. The Act provides $1 billion in funding over the next two years for opioid addiction prevention and treatment programs to develop, promote and use non-narcotic alternative therapies. The commercialization of the drug allows us to deliver an effective and much needed alternative to hundreds of thousands of suffering patients.
In other industry news and market developments:
Pulmatrix, Inc. (NASDAQ: PULM), a clinical stage biopharmaceutical company developing innovative inhaled therapies to address serious pulmonary diseases, on Tuesday announced that it has received a key patent from the European Union. "This new patent shows our continued ability to obtain patents that protect our unique iSPERSE inhaled drug technology-and that also reflect the advances we are making in drug delivery," said Robert W. Clarke, Ph.D., Chief Executive Officer for Pulmatrix. "It gives us a strong intellectual property protection position in Europe as we move forward with our drug candidates for COPD, fungal infections, and other diseases."
Valeant Pharmaceuticals International, Inc. (NYSE: VRX) announced after the close on Tuesday that it has closed its previously announced refinancing transactions. These transactions include its offering of $1.25 billion aggregate principal amount of 6.50% senior secured notes due 2022 and $2.0 billion aggregate principal amount of 7.00% senior secured notes due 2024, and its borrowing of an additional approximately $3 billion of new term loans maturing in 2022.
Heat Biologics, Inc. (NASDAQ: HTBX), a leader in the development of immunotherapies designed to activate a patient's immune system against cancer, announced yesterday the latest results of its ongoing Phase 2 clinical trial of HS-110 in combination with Bristol-Myers Squibb's anti-PD-1 checkpoint inhibitor, nivolumab (OpdivoŽ), for the treatment of non-small cell lung cancer (NSCLC). Fifteen patients have completed the HS-110/nivolumab combination treatment to-date and 12 of these 15 patients were evaluable for ELISPOT analysis. Researchers reported a strong correlation between T cell activation, tumor reductions and increased overall survival in these 12 patients.
Catalyst Pharmaceuticals, Inc. (NASDAQ: CPRX) closed up on Tuesday at $1.70 trading over 1.7 million shares by the market close. Catalyst Pharmaceuticals last week announced positive top-line results from the investigator-sponsored trial evaluating FirdapseŽ (Amifampridine Phosphate) as a treatment for myasthenia gravis patients with anti-MuSK antibodies (MuSK-MG). MuSK-MG, is an ultra-rare sub-population of myasthenia Gravis (MG) patients which is a debilitating neuromuscular disease, and there are currently no FDA approved therapies for this specific form of MG.
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