Palm Beach, FL – (November 28, 2018) – Metastatic bone disease has proven to be more than agonizing for patients, especially when they discover that their cancer has reached an advanced stage, thereby diminishing their chance of survival and adding to the treatment costs. According to the American Academy of Orthopedic Surgeons, nearly 50% of new cancer cases detected each year can spread (metastasize) to the skeleton. The global metastatic bone disease market was estimated valued at $12.4 Billion in 2017 and is anticipated to reach $24.8 Billion by 2026, expanding at a CAGR of 8.1% from 2018 to 2026 according to The Global Health News. Metastatic Bone Tumor Treatment market is expected to register significant market growth owing to the factors such as adoption of Metastatic Bone Tumor Treatment by Orthopaedics, pain management, surgeons and medical specialties, which in turn is generating major opportunities for a growing number of biotechnology firms. Active biotech and pharma companies in the markets this week include: Q BioMed Inc. (OTC:QBIO), General Electric Company (NYSE: GE), Arsanis Inc. (NASDAQ:ASNS), Novavax Inc. (NASDAQ:NVAX), AbbVie Inc. (NYSE:ABBV).
Q BioMed Inc. (OTCQB:QBIO) BREAKING NEWS: Q BioMed a biotechnology acceleration company, is pleased to announce that it has entered into agreement to acquire the metastatic skeletal cancer palliation drug, Metastron™, from GE Healthcare.
The agreement gives Q BioMed ownership of the brand, trademarks and market authorizations in 22 countries. In addition, all historical and current sales and distribution data related to those market authorizations will be assigned or transferred to Q BioMed to allow for as seamless a transition as possible in all markets.
Q BioMed CEO Denis Corin said of the deal, “This is a major deal for Q BioMed. Strategically, it affirms our belief in this drug as an effective and underutilized non-opioid therapy for the treatment of debilitating pain associated with skeletal cancer metastases. Importantly, as we enter this market, we will now have access to all information related to Metastron in 22 countries in which the drug is already approved for sale.” Mr. Corin continued, “This gives us a tremendous springboard to accelerate our revenue potential and establishes a formidable barrier to entry as we grow this market. With regards to the market, it is important to note that our focus is not on the short-term horizon, but rather on the long-term strategic initiative as we look 2 and 5 years down the road at expanding the therapeutic scope for the drug.”
The acquisition agreement with GE Healthcare covers the purchase of the radiopharmaceutical drug Metastron™ and all related intellectual property (IP) including, but not limited to the brand, sales and distribution data, patent, trademark and market authorizations for Metastron in 22 countries in exchange for an undisclosed upfront payment, one milestone payment based on sales and a single digit royalty for 15 years. The first commercial sale of Metastron is expected to occur after the successful transfer or assignment of all IP, material sales and distribution data, technical transfer and establishment of manufacturing capabilities to be made by Q BioMed under the appropriate regulatory filings required by the jurisdictions in which Metastron is sold. The complete transfer and establishment of approved manufacturing facilities will take several months with the relevant international health authorities. Read this and more news for QBIO at: https://financialnewsmedia.com/news-qbio/
Other recent developments in the biotech industry include:
GE Healthcare, the $19 billion healthcare business of General Electric Company (NYSE:GE), is opening a biotechnology manufacturing center at the Stevenage Bioscience Catalyst (SBC) Open Innovation Campus, in Stevenage, United Kingdom, the company announced in a Nov. 27, 2018 press release. In the first half of 2019, the center will start producing a fiber-based chromatography purification platform, which has the potential to improve efficiency in the purification steps of manufacturing biopharmaceuticals, gene therapies, and viral vectors. Additional products will also be produced at the center to serve both laboratory and clinical applications.
Arsanis Inc. (NASDAQ:ASNS) came to a close up 255.17% on Tuesday with more than 43.3 million shares traded on the day. Arsanis and privately-held X4 Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company focused on the discovery and development of novel therapeutics designed to improve immune cell trafficking to treat rare diseases and cancer, announced this week that they have entered into a definitive merger agreement under which X4 Pharmaceuticals is expected to merge with a wholly-owned subsidiary of Arsanis in an all-stock transaction. The merger would result in a combined company operating under the X4 Pharmaceuticals name that will focus on the development and commercialization of X4’s lead product candidate, X4P-001, and the advancement of X4’s pipeline of treatments for rare diseases of the immune system and rare cancers. “X4 has pioneered the development of novel, oral drug candidates targeting pathways that have been demonstrated to improve immune cell trafficking and restore healthy immunity in genetically-driven rare diseases and lymphomas. Our lead product candidate, X4P-001, is expected to begin a Phase 3 trial in WHIM syndrome in the first half of 2019,” said Paula Ragan, PhD, president and chief executive officer of X4 Pharmaceuticals.
Novavax Inc. (NASDAQ:NVAX) recently announced several management promotions. “We are pleased to announce several key management promotions to further support the advancement of our company and its lead clinical programs into commercial stage,” said Stanley Erck, President and Chief Executive Officer of Novavax, Inc. “These individuals have worked closely with our senior leadership team and have made significant contributions to ensure we drive our ResVax and NanoFlu programs towards licensure. We are extremely fortunate to have a seasoned in-house team that continues to deliver results.” Ms. Lichaa joined Novavax in October 2011 as Director, Quality Assurance. She was named Executive Director, Quality Assurance in August 2013 and then named Vice President, Quality Assurance in October 2015. Her role has recently expanded to include quality assurance validation, clinical quality assurance, and quality assurance globally. Ms. Lichaa will continue to serve as the strategic leader and operational manager to direct, oversee, and manage all quality assurance activities.
AbbVie Inc. (NYSE:ABBV) last week announced that the U.S. Food and Drug Administration (FDA) has granted accelerated approval to VENCLEXTA® (venetoclax tablets) in combination with azacitidine, or decitabine, or low-dose cytarabine (LDAC) for the treatment of newly-diagnosed acute myeloid leukemia (AML) in adults who are age 75 years or older, or who have comorbidities that preclude use of intensive induction chemotherapy. This indication is approved under accelerated approval based on response rates. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trials.7 Intensive chemotherapy may not be appropriate for all patients diagnosed with AML.8 An analysis of 446 older (≥70 years of age) AML patients concluded that intensive chemotherapy can be delivered but may not be beneficial to most.8 There are a number of factors why AML patients may be unable to tolerate intensive chemotherapy, such as age, performance status and comorbidities.8 Median survival in patients not eligible for intensive chemotherapy is five to 10 months.
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