Q BioMed Announces Initial $500k Order of Strontium89 to Chinese Market

Rhea-AI Summary

On March 7, 2022, Q BioMed (OTCQB: QBIO) announced a confirmed order of $500,000 for Strontium Chloride USP Injections under a supply contract with isoSolutions and Chengdu Syncor Pharmaceutical Co. Ltd. This contract marks a significant entry into the Chinese radiopharmaceutical market, which is currently demanding 12,000 doses annually and growing at 10% per year. Q BioMed plans to commence shipments in April and continue through 2023. Strontium89 is FDA-approved for treating painful skeletal metastases.

Positive

• Confirmed initial order of $500,000 for Strontium Chloride injections.
• Entry into the growing Chinese radiopharmaceutical market with a demand for 12,000 doses annually.
• Projected 10% annual growth in demand for Strontium89.

Negative

• None.

NEW YORK, March 7, 2022 /PRNewswire/ -- Q BioMed Inc. (OTCQB: QBIO), a commercial stage biotech company, announced today that it has received a confirmed $500,000 order for Strontium Chloride USP Injections under a recently inked supply contract between Q BioMed, isoSolutions Marketing and Management  (our Canadian distribution partner) and Chinese radiopharmaceutical company, Chengdu Syncor Pharmaceutical Co. Ltd. The agreement is the first of what is expected to be a high-growth named patient opportunity to supply Strontium89 in the Chinese market. Chengdu Syncor is an A-list radiopharmaceuticals supplier founded by Cadillac (United States) in 1999, devoted to providing high-quality radionuclide products to its customers throughout China. The Chinese market is currently demanding 12,000 doses a year (growing 10% a year) from 2 local government run manufacturers. This order represents a small fraction of that opportunity.

QBioMed expects to begin shipping doses in April once all logistics are in place and will continue through 2023.

Strontium89 is an FDA-approved, non-opioid radiopharmaceutical indicated for the treatment of painful skeletal metastases caused by cancer and is agnostic of the primary tumor. Common primary tumors that metastasize to the bone include prostate, breast, and lung, as well as others.

Learn more at www.Strontium89.com

Please see full Prescribing Information for Strontium-89 Chloride Injection.

About Q BioMed Inc.

Q BioMed Inc is a biotech acceleration and commercial stage company. Q BioMed is focused on licensing and acquiring undervalued biomedical assets in the healthcare sector. Q BioMed is dedicated to providing these target assets the strategic resources, developmental support, and expansion capital needed to ensure they meet their developmental potential, enabling them to provide products to patients in need‏.

Please visit http://www.QBioMed.com and sign up for regular updates.

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.

Q BioMed Media Contact:
Denis Corin
CEO

Investor Relations:
Keith Pinder
+1(404) 995-6671
ir@qbiomed.com

Chengdu Syncor Contact:
Chen Yahong
Chengdu Syncor Pharmaceutical Co Ltd
No. 3081, Konggang Rd. 4th Southwest Airport Economic Development Zone
Shuangliu, Chengdu, China 610200
Tel./ Fax.: +86-28-85906099

isoSolutions Contact:
Susan Ireland
125A – 1030 Denman Street, Suite 329, Vancouver, BC V6G 2M6, Canada
Tel: +1-604-669-7277 / Fax: +1-604-909-2720

View original content:https://www.prnewswire.com/news-releases/q-biomed-announces-initial-500k-order-of-strontium89-to-chinese-market-301496659.html

SOURCE Q BioMed Inc.

FAQ

What is Q BioMed's latest press release about?

Q BioMed announced a $500,000 order for Strontium Chloride USP Injections for the Chinese market.

When will Q BioMed start shipping doses of Strontium89?

Q BioMed expects to begin shipping doses in April 2022.

What is the annual demand for Strontium89 in China?

China currently demands 12,000 doses of Strontium89 annually.

What is the significance of the order for Strontium Chloride for Q BioMed?

The order signifies Q BioMed's entry into a high-growth market opportunity in China.

What is Strontium89 used for?

Strontium89 is FDA-approved for treating painful skeletal metastases caused by cancer.