Q BioMed expanding footprint in nuclear medicine
New York based biotech acceleration and commercial-stage company, Q BioMed is quietly building itself as a nuclear medicine player by building on its acquisitions of Strontium-89, a 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.
Last week, Q BioMed 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 US market. Jubilant Radiopharma, an industry leading pharmaceutical company specializing in nuclear medicine, is focused on developing, manufacturing, commercializing and distributing high quality and sustainable diagnostic and therapeutic agents on a global scale. Q BioMed had acquired Metastron last November.
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,
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 also entered into a settlement agreement with BioNucleonics Inc. to complete the outright acquisition of their non-opioid cancer bone pain drug Strontium-89 Chloride USP. BioNucleonics had previously licensed the medication.
Under terms of the global royalty agreement, Q BioMed will assume immediate ownership of the pain asset, as well as an abbreviated new drug application for the treatment.
Strontium-89 has a history of providing well-documented pain relief for patients suffering from the “excruciating pain associated with primary cancers that have spread to the bone,” including breast, prostate, lung and others. The drug works by delivering radiation locally to the bone metastases that results in pain relief by selectively targeting and accumulating in metastatic bone lesions with minimal risk of toxicity to surrounding normal tissue.
It is estimated that there are approximately 280,000 people currently living with metastatic bone disease in the U.S. alone. Strontium-89 has previously been approved as a treatment for relief of bone pain in patients with painful skeletal metastases.
Q BioMed said it has been “gearing up its commercial efforts” in anticipation of the successful outcome of the acquisition of Strontium-89 Chloride USP, as well as the pending FDA approval of the contract facility that will manufacture the drug in the United States.
In anticipation of a potential launch of Strontium-89 Chloride USP, Q BioMed said it has hired a commercial team even as it undergoes regulatory review of its contract facility. The company anticipates the announcement of global distribution plans later this year.
Would you be open to chatting with Denis Corin, Q BioMed’s CEO on why he feels Strontium-89 Chloride was key in building its drug pipeline in nuclear medicine. We’d be happy to set up a call.
- Q BioMed
- Q BioMed