Q BioMed Inc. (OTC Pink: QBIO), a biotechnology acceleration company is pleased to announce it has signed a definitive license, with the option to acquire, the platform technology assets of Mannin Research Inc.
Mannin Research Inc., is a biotechnology company leading the development of a new class of vascular therapeutics. The drug development program at Mannin is led by Mannin's Chief Scientific Officer, Dr. Susan E. Quaggin, Chief of the Division of Nephrology and Director of the Feinberg Cardiovascular Research Institute at Northwestern University in Chicago.
Utilizing a proprietary research platform, only recently published (September 2014) in the Journal of Clinical Investigations, this technology is addressing the need for a new class of drugs to treat diseases such as glaucoma and Cystic Kidney disease. Our primary target indication is for a first-in-class therapeutic eye-drop for the treatment of glaucoma in adults and children.
The global market for glaucoma therapeutics is one of the largest segments of the $23 billion global ophthalmology market. There are 60 million people worldwide suffering from glaucoma. It is projected that the total population suffering from glaucoma will grow to 80 million by 2020 (W.H.O 2010). The lead candidate, MAN-01, will address this market as a first-in-class drug that is designed to treat abnormal vessels within the eye, thereby treating glaucoma at its root causes.
There is no cure for glaucoma and new therapeutics are highly sought after. Current therapies and surgical procedures are not optimally effective, are painful and not well tolerated by patients.
Intra-Ocular Pressure (IOP) is caused by abnormal flow of clear fluid within the eye, causing irreversible damage to the eye, ultimately leading to blindness. A specialized blood vessel, the 'Schlemm's canal' is the major drainage pathway for fluid to escape from the front of the eye. Glaucoma can occur when this canal is either blocked during the patient's lifetime or impaired from a birth defect, resulting in a small or absent Schlemm's canal.
Together with Mannin, we are developing a unique molecule delivered in an easy-to-administer eye drop designed to repair the normal flow of fluid in the eye resulting in the reduction of IOP, one of the main causes of glaucoma. Our platform is both unique and first-in-class and we are the only company targeting this mechanism of action.
Our estimates and market research has shown that demand for treatments in this sector is fairly in-elastic. The cost for treatment is projected to be approximately $1,000 per patient per year. Based on that and a moderate market penetration and sales growth estimate, revenues could be significant in this multi-billion dollar market.
In addition, a deep pipeline of novel therapeutics can be developed from this research platform developed and led by Dr. Quaggin, which would treat a spectrum of vascular diseases.
QBioMed CEO Denis Corin states, "We are extremely pleased to have closed on our initial technology transaction. This novel and exciting platform presents multiple opportunities and a pipeline of potential therapeutics including treatments for glaucoma and cystic kidney disease. We look forward to working with Dr. Quaggin, her team at Northwestern University, and Dr. George Nikopoulos, Mannin Research's CEO. We thank them for taking this step with us."
Dr. Nikopoulos said, "This partnership is truly exciting, as it has the potential to make a positive impact upon the health outcomes for the millions of people worldwide who live with glaucoma. The agreement with QBioMed further validates the innovative R&D being performed by Mannin Research. We look forward to this partnership with Denis and his team at QBioMed in accelerating the development of this innovative platform technology."
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