Q BioMed Inc. (OTCQB: QBIO), a commercial stage biotechnology acceleration development company, is pleased to announce that it is extending its option agreement with Washington University in St. Louis. Under the agreement granting the exclusive right to license the technology, Q BioMed will continue to evaluate the feasibility and usability of GDF15, a novel biomarker for monitoring glaucoma, as a companion diagnostic to the MAN-01 small molecule currently being optimized for the topical treatment of glaucoma.
The extension allows for more extensive evaluation to be conducted on the feasibility and usability of GDF15 as a novel biomarker for glaucoma and companion diagnostic to, Q BioMed”s exclusively licensed technology, MAN-01. Dr. Arsham Sheybani, Assistant Professor of Ophthalmology and Dr. Rajendra S. Apte, the Paul A. Cibis Distinguished Professor of Ophthalmology and Visual Sciences at Washington University in St. Louis, will conduct a study planned to take place at Washington University in St. Louis using GDF-15 to gather more clinical data on its feasibility and usability as a biomarker for monitoring glaucoma.
In the clinical study, the investigators will examine whether GDF-15 levels correlate with glaucoma severity and with adequate therapeutic response in patients undergoing glaucoma surgery. A primary goal of glaucoma surgeries is reducing IOP, as elevated IOP contributes to RGC death and vision loss. Therefore, in addition to measuring GDF-15 levels, they will also record IOP measured before surgery and at the follow-up. IOP measurement is done at each visit as part of usual care of the patient. These independent studies will provide valuable insights regarding the role of GDF-15 that can inform future clinical studies.
Denis Corin, QBioMed CEO, said, ‘We are very pleased to be taking this project one step further. We believe that Q BioMed is uniquely positioned to address the marketable demand for novel, breakthrough, precision medicine tools to treat glaucoma. This GDF-15 diagnostic, combined with our MAN-01 drug to treat glaucoma, will be a powerful combination: improving the decision-making tools for clinicians, while making a positive impact on the health of glaucoma patients.’
About Q BioMed Inc.
Q BioMed, Inc. is a biomedical acceleration and development company. We are focused on licensing and acquiring biomedical assets across the healthcare spectrum. Q BioMed is dedicated to providing these target assets the strategic resources, developmental support and expansion capital they need to meet their developmental potential so that they can 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: inspection of the proposed third-party manufacturing facility by the FDA or other comments or requests from the FDA in connection with the above mentioned regulatory filing; failure of the proposed third-party manufacturing facility to pass an inspection by the FDA; regulatory risks; 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.
Q BioMed Inc.
NEW YORK, July 25, 2018 /PRNewswire/ —