Q BioMed Inc, a New York City-based biotechnology acceleration company provides an update report on its asset acquisition and an update on corporate development.

While the summer months have been typically slow, the Company has made good progress on all fronts and are currently finalizing the closing conditions required to formalize the exclusive licensing of an FDA approved drug from a U.S. Company focused on the development and production of generic radiopharmaceuticals. The expected addition of this asset to their pipeline will be extremely timely, as all stakeholders in the healthcare space look to make more affordable drugs available to patients.

Regarding their current asset, MAN-01 for the treatment of glaucoma, their partner, Mannin Research, is progressing well in its pre-clinical lead candidate optimization of a small molecule for a topical route of administration.

Mannin is continuing strategic partnership discussions with companies and technologies that will strengthen Mannin's intellectual property portfolio in the Tie2/TEK mechanism of action market. Mannin is also establishing research and development partnerships with non-governmental organizations to provide direct support for the MAN-01 program.

Q BioMed has been conducting due diligence on several other potential assets to expand the ophthalmology pipeline within Q BioMed. These include implantable devices and biomarker diagnostics. In addition, they have been working with additional potential advisory experts to add to the Q BioMed team and will make details of these available as they materialize.