Q BioMed Inc. (OTCMKTS:QBIO) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On November 23, 2018, we (“QBIO”) entered into an asset sales agreement with GE Healthcare Limited to purchase its radiopharmaceutical drug, Metastron™ and all related intellectual property (“IP”) including, but not limited to sales and distribution data, market authorizations for Metastron™ in up to 22 countries and trademarks in up to 54 countries in exchange for an undisclosed upfront payment, one milestone payment based on sales and a single digit royalty for 15 years. We expect the first commercial sale of Metastron™ to occur after the successful transfer or assignment of all intellectual property, material sales and distribution data, technical transfer and the establishment of new manufacturing sites by Q BioMed and under the appropriate regulatory filings required by the jurisdictions in which Metastron™ is sold.
| Item 7.01 | Regulation FD Disclosure. |
On November 28, 2018, we issued a press release entitled “Q BioMed Inc. Acquisition of Cancer Pain Drug Metastron™ from GE Healthcare”. A copy of the press release is furnished herewith as Exhibit99.1.
The information in this Item 7.01 of this Form 8-K is being 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.
| Item 9.01 | Financial Statements and Exhibits. |
Exhibits.
| + | Portions of this exhibit have been omitted to a request for confidential treatment and this exhibit has beensubmitted separately with the SEC. |
Q BioMed Inc. ExhibitEX-10.1 2 tv508085_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 Dated 23 November 2018 GE HEALTHCARE LIMITED and Q BIOMED,…To view the full exhibit click here
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.