QSAM BIOSCIENCES INC - QSAM STOCK NEWS

QSAM Biosciences Inc. has signed a definitive Agreement and Plan of Merger with Telix Pharmaceuticals Limited, providing for the acquisition of the Company by Telix. The Agreement includes a consideration of $33.1 million in Telix ordinary shares or cash, along with contingent value rights to receive future payments of up to $90 million upon the achievement of four clinical and commercial milestones within ten years of closing. QSAM stockholders will also receive one CVR for each QSAM common share held prior to the reverse split. The merger is subject to various conditions, including the filing of a definitive information statement pursuant to Regulation 14C of the Securities Exchange Act of 1934. Dr. C. Richard Piazza, QSAM’s Executive Chairman and co-Founder, expressed optimism about the merger, emphasizing the potential benefits for shareholders. Dr. Christian Behrenbruch, Managing Director and Group CEO of Telix, highlighted the acquisition's potential to enhance Telix’s therapeutic pipeline and innovation position in radiopharmaceuticals.

QSAM Biosciences Inc. (OTCQB: QSAM) signs non-binding term sheet with Telix Pharmaceuticals (US) Inc., a subsidiary of Telix Pharmaceuticals Limited (ASX: TLX), for the acquisition of the Company. Telix to pay US$2 million Collaboration Fee and potential total of US$123.1 million in stock and milestone payments. Acquisition expected to accelerate development of CycloSam® and leverage Telix's distribution expertise.

QSAM Biosciences Inc. provides an update on the progress and preliminary data from its Phase 1 trial studying the safety and early signs of efficacy of CycloSam® in patients with bone cancer. The trial showed no serious adverse events and maintained normal blood cell counts. Preliminary findings indicate a decrease in metabolic activity of cancer cells and reduction in tumor size. Patients also experienced significant pain relief and improved mobility. The company plans to complete Phase 1 in Q1 2024 and seeks capital through an underwritten offering and NASDAQ listing.

QSAM Biosciences Inc. (OTCQB: QSAM), based in Austin, TX, announced an important milestone on April 26, 2023. The European Patent Office (EPO) has allowed a patent protecting the use of lower specific activity Samarium-153 for treating bone cancer in both children and adults. This patent covers high purity therapeutic agents licensed to QSAM and introduces a novel production method that reduces impurities, potentially enabling higher and multiple dosing regimens for various metastatic bone cancers.

The CEO, Douglas R. Baum, emphasized the significance of repeated dosing regimens in treating bone tumors and the company’s ongoing clinical trials. This patent marks the second in Europe and is expected to enhance QSAM’s patent estate, expanding its commercial market potential for breakthrough therapies in bone cancer treatment.

QSAM Biosciences Inc. (OTCQB: QSAM) has commenced enrollment for the second cohort in its Phase 1 study of CycloSam® for metastatic bone cancer treatment. Following positive safety data from the first cohort, the company is increasing the dosage by 50% for new participants. With nearly $3 million raised in a recent private placement and the conversion of outstanding convertible notes, QSAM is positioned to advance its clinical trials. CycloSam® targets bone cancer types that frequently have poor outcomes, as evidenced by approximately 400,000 new cases of malignant bone metastasis annually in the U.S. QSAM aims to address this significant medical need.

QSAM Biosciences (OTCQB: QSAM) is set to present updates on its clinical trial for CycloSam®, a next-generation therapeutic radiopharmaceutical targeting metastatic bone cancer, at the Emerging Growth Conference on March 22, 2023. The presentation will occur at 2:50 PM EST and will last approximately 10 minutes, allowing investors and analysts to engage with the company's executive team. CycloSam® has shown preliminary safety and efficacy in prior studies, and QSAM is optimistic about its commercialization path given its innovative technology. Interested parties can register online to attend.