Q BioMed Inc., a biomedical acceleration and development company based in NYC, has closed on its final tranche of the $4,000,000 funding announced on November 30th, 2016. The company received $1,500,000 less fees on the final closing bringing the total gross funds received to date to $4MM. Capital from the transaction will be used to advance our business plan and pipeline as we commercialize our first asset, Strontium Chloride 89 injection (SR89). SR89 is indicated for bone pain palliation, providing long-lasting relief for patients suffering from debilitating bone pain due to metastatic cancer, typically caused by advanced-stage breast, prostate or lung cancer.

Last week Q BioMed management attended the 2017 OMRF BioVenture Forum, an industry event organized and hosted by the Oklahoma Medical Research Foundation (OMRF) where we advanced discussions on the development of a novel liver cancer drug candidate. Approximately, 700,000 people annually throughout the world are diagnosed with liver cancer and approximately 600,000 deaths annually are attributed to liver cancer. Chemotherapeutic options for liver cancer are limited and the prognosis of liver cancer patients remains very poor.

Management met with industry colleagues as well as the Governor of Oklahoma, Mary Fallin, at a reception hosted by the Governor. Q BioMed looks forward to working with all parties on this important drug, in what is a vibrant biotechnology corridor in Oklahoma City.

The capital also allows the company to advance discussions with potential additional assets as they continue to develop their drug pipeline.  Q BioMed Inc is 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?.