Biotech

SeeThru Equity Initiates Coverage of Q BioMed Inc. Price Target $3.85

Q BioMed Inc. (OTCQB:QBIO) is focused on identifying, acquiring and licensing attractive biomedical assets from small private companies and academia, which lack the resources and experience to bring their programs to market on their own.

Q BioMed Inc. (OTCQB:QBIO) is focused on identifying, acquiring and licensing attractive biomedical assets from small private companies and academia, which lack the resources and experience to bring their programs to market on their own. QBIO believes it can add considerable value to its investments by providing strategic capital, industry resources and experience in order to accelerate the development and commercialization of life science assets. QBIO’s initial program is MAN-01, a small molecule designed to treat glaucoma, an eye disease which affects 60mn people globally, and is expected to affect over 100mn people by 2020E. The glaucoma market is a $5 billion annual market opportunity, for which no new drugs have been approved in approximately 20 years. The company acquired an exclusive license to MAN-01 from Mannin Research, Inc. The technology platform is based on the research of Dr. Susan Quaggin, Chief Scientific Officer of Mannin Research. Broadly, Dr. Quaggin’s research demonstrates a unique approach to treating a host of vascular diseases including glaucoma, cystic kidney disease, influenza, ebola, and others. These additional indications are part of the exclusive license agreement with Mannin. In addition to the Mannin Research platform technology, QBIO has announced its intention to acquire 2-3 additional programs over the next twelve months.

“In our view the experience and quality of management should a crucial role in the successful execution of the biomedical accelerator model. Indeed, the core value promised by QBIO is that it will be able to identify, develop, and support value-creating programs harvested from small private biomedical companies and academia, providing a conduit which would otherwise be difficult to access or unavailable to pubic company investors – and then provide strategic capital and other valuable resources to these companies to help them reach commercialization and/or a value-creating event. QBIO is led by CEO Denis Corin, who brings a wealth of experience in the biomedical field at both large pharmaceutical firms and small innovative firms in the biotech space,” stated Ajay Tandon, CEO of SeeThruEquity. “We see serval potential catalysts for the company in coming months, including the pending acquisition of a new cancer palliation drug. We are initiating coverage with a price target of $3.85.”

Highlights from the report are as follows:

Promising initial program targeting glaucoma

QBIO’s initial asset is MAN-01, a preclinical small molecule designed for the treatment of glaucoma, an eye disease that affects 60mn people globally and represents a $5 billion annual market, according to the World Health Organization. Significantly, no new drugs for glaucoma have been approved in 20 years, despite the current standard of care being effective at stopping the progression of glaucoma but not providing a cure. MAN-01 is a pre-clinical asset which QBIO has licensed from Mannin Research, and we expect the companies to provide details of the clinical study in 2017, with the first-in-human proof-of-concept clinical trial executed in 2018.

New acquisitions on the horizon, with revenue a possibility

Beyond MAN-01, QBIO management is looking to make 2-3 acquisitions over the next year, including at least one with short-term revenue-generating potential. On June 1, 2016, QBIO announced that it entered into an agreement to exclusively license a “revenue ready,” FDA-approved drug indicated for pain care associated with metastatic bone cancer. QBIO has stated that the new program is expected to provide $1mn+ in revenues in the first year following the close of the deal with a goal of $10mn+ in annual sales within 3-5 years. The deal offers QBIO an attractive entry point to access to a cancer palliation drug undergoing label expansion to therapeutic, which management expects to result in a target market opportunity of approximately $1 billion per year within 36 months of the acquisition’s close.

Connect with Q BioMed Inc. (OTCQB:QBIO) to receive an Investor Presentation.

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