Jubilant Radiopharma to Distribute Strontium-89 Chloride Injection USP Throughout the United States
NEW YORK, Oct. 3, 2019 /PRNewswire/ -- Q BioMed Inc. (OTCQB: QBIO), a commercial stage biotech company, announced today it has entered into an exclusive distribution agreement for its non-opioid metastatic cancer pallion drug, Strontium-89 Chloride Injection USP (Strontium-89)/Metastron™, with Jubilant Radiopharma for the United States market. Jubilant Radiopharma 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.
Strontium-89 is an FDA-approved non-opioid radiopharmaceutical indicated for the treatment of painful skeletal metastases caused by cancer. The product 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 United States will again have the opportunity to access the drug. Denis Corin, CEO of Q BioMed, said of the deal, "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."
Jubilant Radiopharma operates the second largest commercial radiopharmacy network in the United States. Pramod Yadav, CEO, Jubilant Pharma Limited stated, "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. 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."
Q BioMed and Jubilant Radiopharma intend to announce further details regarding availability of Strontium-89 later this fall.
About Q BioMed Inc.
Q BioMed Inc. is a biotech acceleration and commercial stage company. We are focused on licensing and acquiring undervalued biomedical assets in the healthcare sector. Q BioMed is dedicated to providing these target assets; strategic resources, developmental support, and expansion capital to ensure they meet their developmental potential, enabling them to provide products to patients in need.
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About Jubilant Pharma Limited
Jubilant Pharma Limited (JPL), a company incorporated under the laws of Singapore and a wholly owned subsidiary of Jubilant Life Sciences Limited, is an integrated global Pharmaceutical company engaged in manufacturing and supply of APIs, Solid Dosage Formulations, Radiopharmaceuticals, Allergy Therapy Products and Contract Manufacturing of Sterile Injectibles and Non‐sterile products through 5 USFDA approved manufacturing facilities in the US, Canada and India and a network of over 50 radio‐pharmacies in the US. The Company has a team of over 4,300 multicultural people across the globe and is committed to deliver value to its customers spread across over 75 countries. It is well recognized as a 'Partner of Choice' by leading pharmaceutical companies globally.
About Jubilant Radiopharma
Jubilant Radiopharma is an industry leading radiopharmaceutical company focused on developing, manufacturing, commercializing and distributing high quality and sustainable diagnostic and therapeutic agents for the sole purpose of Improving Lives Through Nuclear Medicine on a global scale.
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.
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