Q BioMed Inc. (OTCMKTS:QBIO) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
Agreement (Exclusive License) with the Rajiv Gandhi Centre for
Biotechnology, an autonomous research institute under the
Government of India (RGCB), and the Oklahoma Medical Research
Foundation (OMRF and together with RGCB, the Licensors),
whereby the Licensors granted us a worldwide, exclusive,
license on intellectual property related to Uttroside B (the
Uttroside B IP). Uttroside B is a chemical compound derived
from the plant Solanum nigrum Linn, also known as Black
Nightshade or Makoi. We seek to use the Uttroside B IP to
create a chemotherapeutic agent against liver cancer.
In addition to royalties based upon net sales of the product
candidate, if any, we are required to make additional payments
upon the following milestones:
|
the completion of certain preclinical studies (the
Pre-Clinical Trials); |
|
the filing of an investigational new drug application
(the IND) with the US Food and Drug Administration (FDA) or the filing of the equivalent of an IND with the foreign equivalent of the FDA; |
|
successful completion of each of Phase I, Phase II and
Phase III clinical trials; |
|
FDA approval of the product candidate;
|
|
approval by the foreign equivalent of the FDA of the
product candidate; |
|
achieving certain worldwide net sales; and
|
|
a change of control of QBIO.
|
the development and commercialization of the product candidate
and are responsible for the costs of such development and
commercialization. We have undertaken a good-faith commitment
to (i) fund the Pre-Clinical Trials and (ii) to initiate a
Phase II clinical trial within six years of the date of the
Agreement. Failure to show a good-faith effort to meet those
goals would mean that the Exclusive License would revert to the
Licensors.
Inc. to Present at the Sixth Annual Marcum Microcap Conference in
New York. A copy of the press release is furnished herewith as
Exhibit 99.1.
Finalizes License Agreement with Oklahoma Medical Research
Foundation and the Rajiv Gandhi Centre for Biotechnology for
Novel Liver Cancer Treatment. A copy of the press release is
furnished herewith as Exhibit 99.2.
furnished and shall not be deemed filed for the purposes of
Section 18 of the Securities Exchange Act of 1934, or otherwise
subject to the liabilities of that section. The information in
this Item 7.01 of this Form 8-K also shall not be deemed to be
incorporated by reference into any filing under the Act or the
Securities Exchange Act of 1934, except to the extent that we
specifically incorporate it by reference.
| 10.1 |
Technology License Agreement on, dated June 15, 2017,
among Q BioMed Inc., Oklahoma Medical Research Foundation and Rajiv Gandhi Centre for BioTechnology |
| 99.1 |
Press Release entitled Q BioMed Inc. to Present at the
Sixth Annual Marcum Microcap Conference in New York |
| 99.2 |
Press Release entitled Q BioMed Inc Finalizes License
Agreement with Oklahoma Medical Research Foundation and the Rajiv Gandhi Centre for Biotechnology for Novel Liver Cancer Treatment |
confidential treatment and this exhibit has been submitted
separately with the SEC.
About Q BioMed Inc. (OTCMKTS:QBIO)
Q BioMed, Inc., formerly ISMO Tech Solutions, Inc., is a biomedical acceleration and development company. The Company is focused on licensing, acquiring and providing strategic resources to life sciences and healthcare companies. The Company intends to acquire multiple assets over time and across a spectrum of healthcare related products, companies and sectors. The Company intends to develop these assets to provide returns through organic growth, out-licensing, sale or spin-off into new public companies. The Company holds license for a generic drug, Strontium Chloride (SR89). SR89 is a radiopharmaceutical agent and indicated for the treatment of pain associated with metastatic bone cancer. Its asset, MAN-01, is indicated for the treatment of glaucoma. MAN-01 is in pre-clinical stage. The Company is assessing multiple biomedical assets in various areas of healthcare and drug development. It is pursuing a pipeline of therapeutics, diagnostics and orphan drug candidates.
