Q Biomed Comments on its Glaucoma Drug and Industry News in the Ophthalmology Space
NEW YORK, October 7, 2016 /PRNewswire/ --
Media Alert: CEO Interviewed on Wall St Analyst
Q BioMed Inc. (OTCQB: QBIO), a biotechnology acceleration company with a glaucoma drug in development through its partner Mannin Research provides this update on the MAN-01 program and its relevance in the glaucoma market.
Over the last few weeks a number of significant deals and announcements have been made in the ophthalmology space. Aerie Pharmaceuticals, Inc.'s shares soared giving the company a market cap over $1 billion after the company announced successful 90-day primary efficacy data from the first phase III registration study, Mercury 1, on Roclatan.
Roclatan (once daily) is being evaluated for its ability of lowering intraocular pressure (IOP) in patients with glaucoma or ocular hypertension.
Q BioMed is developing a first in class drug targeting the Schlemm's canal and its role in regulating IOP, one of the leading causes of glaucoma. No other glaucoma company is targeting the Schlemm's Canal, the main drainage pathway in the eye. This unique vessel is responsible for 70-90% of the fluid drainage in the eye. The MAN-01 drug is currently in the lead optimization stage of its pre-clinical testing.
The success of this Aerie trial is an indication of the importance of this market, and the acute need for novel drugs to treat the over 60 million sufferers of this disease.
In related corporate sector news, Allergan plc, a leading global pharmaceutical company, and AqueSys, Inc. a private clinical stage medical device company focused on developing ocular implants that reduce intraocular pressure (IOP) associated with glaucoma, announced that they have entered into an agreement under which Allergan will acquire AqueSys in an all-cash transaction for a $300 million upfront payment and regulatory approval and commercialization milestone payments related to AqueSys' lead development programs.
Abbott Laboratories signed another multi-billion-dollar transaction that reaffirms growing interest in ophthalmology companies. In this deal, Abbott Laboratories is selling, Abbott Medical Optics to Johnson & Johnson Inc. for $4.325 billion in cash.
These transactions are another validation for Q BioMed and its platform treatment program with Mannin Research. The industry heavyweights are actively looking for, and acquiring innovative products in this space. We are also looking at additional indications and products to fit within our ophthalmology vertical.
Q BioMed CEO Denis Corin was interviewed on the Wall St Analyzer on Sept 14th. Please listen to the interview here...
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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 the 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.
Contact: Denis Corin CEO Q BioMed Inc. +1-888-357-2435
SOURCE Q BioMed Inc