Q BioMed in partnership deal to distribute non-opioid metastatic cancer drug in US

Q BioMed Inc (OTCMKTS:QBIO) announced Thursday it has entered into an exclusive distribution agreement for its non-opioid metastatic cancer pallion drug Strontium-89 with Jubilant Radiopharma for the US market.

Jubilant Radiopharma, a segment of Jubilant Pharma Limited, is an industry-leading pharmaceutical company specializing in nuclear medicine focused on developing, manufacturing, commercializing and distributing high quality and sustainable diagnostic and therapeutic agents on a global scale, according to a statement.

Strontium-89, which has been approved by the US Food and Drug Administration, is a non-opioid radiopharmaceutical for the treatment of painful skeletal metastases caused by cancer. 

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The drug is administered intravenously once every three months as an alternative to opioid analgesics and plays a critical role in the treatment of metastatic bone pain.

The partnership between Q BioMed and Jubilant Radiopharma means that once the FDA approves the Q BioMed contract manufacturer, the large population of potential Strontium-89 patients in the US will again have the opportunity to access the drug, the company said. 

“Our partnership with Jubilant Radiopharma is an essential component of our upcoming commercial launch and means that we’ll be able to reach providers and patients across the country through a scalable, highly-efficient program, thereby re-establishing supply of this life-changing therapy to those suffering from this debilitating pain,” said Denis Corin, CEO of Q BioMed.

Jubilant Radiopharma operates the second-largest commercial radiopharmacy network in the US, noted Pramod Yadav, CEO of Jubilant Pharma Limited.

“Jubilant Radiopharma is committed to improving lives through Nuclear Medicine by providing healthcare professionals access to high quality, FDA-approved products that enable better patient outcomes, he said.

“We are pleased to partner with Q BioMed to bring this important cancer pain therapy to healthcare providers and patients who so desperately need choices in cancer pain treatment.”

Both companies intend to announce further details regarding the availability of Strontium-89 later this year.

Q BioMed, based in New York, is a biotech acceleration and commercial-stage company focused on licensing and acquiring undervalued biomedical assets.

The company’s stock recently traded up 4.5% to $0.60 a share on the OTC market. 

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Story by ProactiveInvestors