Q BioMed Inc. (OTCQB:QBIO), a biotechnology acceleration company with a glaucoma drug in development through its partner Mannin Research provides this update on the MAN-01 program and its relevance in the glaucoma market.
Over the last few weeks a number of significant deals and announcements have been made in the ophthalmology space. Aerie Pharmaceuticals, Inc.’s shares soared giving the company a market cap over $1 billion after the company announced successful 90-day primary efficacy data from the first phase III registration study, Mercury 1, on Roclatan.
Roclatan (once daily) is being evaluated for its ability of lowering intraocular pressure (IOP) in patients with glaucoma or ocular hypertension.
Q BioMed is developing a first in class drug targeting the Schlemm’s canal and its role in regulating IOP, one of the leading causes of glaucoma. No other glaucoma company is targeting the Schlemm’s Canal, the main drainage pathway in the eye. This unique vessel is responsible for 70-90% of the fluid drainage in the eye. The MAN-01 drug is currently in the lead optimization stage of its pre-clinical testing.
The success of this Aerie trial is an indication of the importance of this market, and the acute need for novel drugs to treat the over 60 million sufferers of this disease.
In related corporate sector news, Allergan plc, a leading global pharmaceutical company, and AqueSys, Inc. a private clinical stage medical device company focused on developing ocular implants that reduce intraocular pressure (IOP) associated with glaucoma, announced that they have entered into an agreement under which Allergan will acquire AqueSys in an all-cash transaction for a $300 million upfront payment and regulatory approval and commercialization milestone payments related to AqueSys’ lead development programs.
Abbott Laboratories signed another multi-billion-dollar transaction that reaffirms growing interest in ophthalmology companies. In this deal, Abbott Laboratories is selling, Abbott Medical Optics to Johnson & Johnson Inc. for $4.325 billion in cash.
These transactions are another validation for Q BioMed and its platform treatment program with Mannin Research. The industry heavyweights are actively looking for, and acquiring innovative products in this space. We are also looking at additional indications and products to fit within our ophthalmology vertical.
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