QBioMed Inc. (OTCQB: QBIO) Corporate Update; Licensed Mannin Research Glaucoma
Technology Advancing on Schedule
NEW YORK, NY – February 17, 2016 - Q BioMed Inc. (OTCQB: QBIO), a biotechnology acceleration company recently provided
the following update on recent corporate developments.
Over the last 3 months we have significantly increased
our cash position through several convertible note and securities purchase
agreements exceeding $1,000,000. As a result, we have positioned ourselves to
execute on the initial commitments under our Mannin Research Inc. license
agreement and expect that development to continue on schedule.
Mannin's leading technology platform, MAN-01, is
moving forward as planned with molecule optimization and the asset development
program is being finalized.
Mannin has also been accepted as one of three
companies to the Chicago-Canada Mentorship Program (C2MP).
The C2MP program is a tailor-made mentoring program
focused on life science innovators. In partnership with the Chicago Innovation
Mentors (CIM@MATTER) organization, the Canadian Trade Commissioner Service will
catalyze and accelerate technology commercialization opportunities in the
Chicago area by matching experienced and supportive mentoring teams with early
stage innovators.
Mannin was selected to take part in the program so as
to accelerate the development and commercialization of Mannin's lead
indication, MAN-01 for Primary Open-Angle Glaucoma.
CIM@MATTER was established in 2010 based on the VMS
program at the Massachusetts Institute of Technology. CIM@MATTER has seven
member institutions, and nearly 200 mentors as part of its innovation network.
The C2MP program will provide Mannin with a mentor and
a group of advisors from a team of life science and business professionals
within the CIM@MATTER team and dedicated support from the Trade Commissioner
Service of Canada.
Mannin's CEO, Dr. George N. Nikopoulos stated,
"We are thrilled to be a part of the program. We see the value in the
acceleration process as it relates to our development and commercialization
milestones. We thank the Canadian Trade Commissioner Service in Chicago for
their support and look forward to a successful program."
In January 2016, Mannin participated in the Glaucoma
360 New Horizons Forum conference in San Francisco, organized by the Glaucoma
Research Foundation. The conference is a unique gathering of CEOs from
startup companies, industry executives, ophthalmic leaders and venture capitalists
seeking to speed the translation of new ideas to improved therapies for
glaucoma patients.
In January 2016, members of the QBIO management team
attended and presented at the BioTech Showcase around the JP Morgan healthcare
conference in San Francisco. The conference was very productive and our
presentation was well attended. The focus of the meeting was to further expose
the QBIO brand and business to potential partners both in technology
development and capital raising.
Our management and our team of advisors are actively
conducting due diligence and asset development assessment on several new
technologies and products. It is our goal to have at least 3 asset transactions
completed this year to expand and broaden our pipeline into other indications
in various stages of development.
We invite our shareholders and interested parties to
subscribe to our email list and stay informed on our website at http://www.qbiomed.com and follow us on the social media feeds we use.
About Q BioMed Inc.:
Q BioMed Inc. "Q" is a biomedical
acceleration and development company. We are focused on acquiring companies and
biomedical assets. Q is dedicated to providing these target companies and
assets, strategic resources, developmental support, and expansion capital to
ensure they meet their developmental potential enabling them to provide
products to patients in need.
Forward-Looking Statements:
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.
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