Traders News Source Senior Editor Mark Roberts Interviews Denis D Corin, CEO and Chairman Q BioMed Inc. (OTCQB: QBIO) a biotech acceleration and commercial stage company focused on licensing and acquiring undervalued biomedical assets in the healthcare sector.
Denis D Corin
CEO and Chairman
Mr. Denis D. Corin is Chief Executive Officer and Chairman of the Board. Mr. Corin is an experienced public company executive and management consultant. He has worked almost exclusively in the biomedical field for over 13 years from large pharma and diagnostic companies to small innovative biotech. He has served in various senior executive roles and has been instrumental in building and restructuring businesses. Mr. Corin has raised millions of dollars in development capital to advance businesses. Mr. Corin also served as a Management Consultant to the executives and board of TapImmune Inc. (NASD:TPIV), a clinical stage immune -oncology company through 2014. He holds a Bachelors Degree majoring in both Economics and Marketing & Advertising Management from the University of Natal, South Africa.
Could you give us a brief overview and future vision for your company?
We started Q BioMed in 2015 with the vision of finding high value assets that had with huge potential that we could accelerate to a point of real value creation by providing both the funds and human capital to advance to a monetization event. We also wanted to have at least one asset that was close to commercial that we could commercialize and start to generate revenues to de-risk the portfolio.
Over the last 7 years we have done just that. We have a commercial asset we are now monetizing through commercial sales and have the option to sell or grow. We have several other high value assets that address markets in excess of $170 Million that are all approaching monetization events this year. So, to answer your question, I see us creating significant value through the monetization of the assets we have developed so far. We have several opportunities to do so over the next 12 months and many of them will require much more capital investment from us.
Strontium89 sales revenue has increased dramatically. Can you discuss the total addressable market for that product?
Bone pain is one of the most common types of pain in cancer patients . Approximately 60–84% of patients with advanced cancer are estimated to experience varying degrees of bone pain . This condition affects millions of patients worldwide, with nearly 450,000 patients annually in the USA alone . Our drug has a very broad label making it available to not only breast and prostate, but to ALL cancers that metastasize to bone. That’s a huge number of potential patients in the US and much larger if taken globally. It is estimated there are over 10 million patients currently suffering from bone pain cased by this terrible disease.
You have discussed seeking a partnership to bring Uttroside-B to clinical trials. Could you be specific as to that potential partnership search?
Yes – we have had a few discussions with interested parties, but I am not in a position to elaborate just yet. The recent data we announced showing that in animal studies our drug looks to be not only safe but more effective than the current offering is an additional validation of the work done to date and we are excited to see where this leads in the near future.
Beyond Uttroside-B, QBIO has several other products in the preclinical stage, which of those products do you expect will develop the fastest?
We have an exclusive license and development agreement with Mannin Research through which we have a 50% royalty on their entire portfolio. Mannin is quickly approaching a clinical program for acute respiratory distress syndrome (ARDS) a condition that affected millions of COVID patients and those with severe influenzas, pneumonia, and sepsis. That same pre-clinical package may also be used for clinical approvals in the other indications we have been working on, namely, glaucoma and diabetic kidney disease. Together the addressable market for this portfolio is well over $150 Billion. We expect the first clinical trial to be completed in the next 8 months. A positive read out from that could be a very significant value catalyst.
Could you discuss the QBIO portfolio of patents and patents pending?
We have several patents through our licensing partners. While the patents ultimately are owned by the universities, institutions, or inventors, we have global exclusive licenses on all of these programs.
What is the current cash position at QBIO? And does the company have solutions it’s considering for funding operations though FYE 2022?
Current market conditions have made raising capital challenging. Biotech has been particularly hard hit. We continue to raise small amounts of cash along with the revenues to move the business forward. We are currently evaluating several strategic opportunities to make the move to Nasdaq and a better availability of longer-term capital.
QBIO has a viable oncology product experiencing rapidly growing revenues, yet the company’s market value has dropped considerably. Can you address that paradox and tell our readers why QBIO is a sound investment in the near term?
Last year we were poised for a very large investment partnership in the amount of $30M that would have set us up for significant advancement and up listing. Unfortunately, the funders family office reneged and collapsed on the day of our closing. That lead to us this point where we have not completed our uplifting and larger funding, however, the fundamentals are actually far better than they were at that time. In fact, they are stronger now than ever. We have a fully approved product with a complete marketing and branding package ready to go, fully reimbursed by Medicaid and Medicare, a federal supply contract to sell into the VA, DoD etc. and we are starting to generate revenues, without a sales force in place. We have advanced Uttroside B to a point where its ready to take to the clinic as a potential blockbuster drug. We have a series of potential drug products in development with Mannin that are about to get validated and commercialize or monetize, and that entire program is now heavily funded by non-dilutive capital from the Canadian and German governments. We expect to convert our royalty in Mannin into equity which will immediately add several million dollars to our balance sheet where currently the royalty has no asset value. Mannin prospect for its own value catalyst is excellent and their proforma revenues could be quite significant over the next 24 months. All in all, the current valuation in my opinion is significantly below what the asset value of the company is, and this should translate to a good return as we hit some of the milestones discussed. As always there is risk in biotech, but with risk comes reward.
The Traders News Team
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