NEW YORK, February 2, 2017 /PRNewswire/ --
Q BioMed Inc. (OTCQB: QBIO), a biotechnology acceleration company, is pleased to announce that Mannin Research, its research partner for the development of a novel pharmaceutical eye-drop to treat Primary Open-Angle Glaucoma utilizing the Tie2 Mechanism of Action, has been accepted into Johnson & Johnson Innovation, JLABS @ Toronto.
Q BioMed focuses on acquiring companies and biomedical assets, providing these target companies and assets, strategic resources, developmental support, and expansion capital to ensure they meet their developmental potential, and enabling them to provide products to patients in need.
JLABS @ Toronto is a 40,000 square-foot life science innovation center. The labs provide a flexible environment for start-up companies pursuing new technologies and research platforms to advance medical care. Through a "no strings attached" model, Johnson & Johnson Innovation does not take an equity stake in the companies occupying JLABS and the companies are free to develop products - either on their own, or by initiating a separate external partnership with Johnson & Johnson Innovation or any other company.
Mannin will utilize JLABS @ Toronto as complementary lab space to conduct commercial research and development as it relates to its MAN-01 program for Glaucoma and to the greater Tie2 platform technology. As a resident, Mannin will have access to the development and commercialization expertise provided by JLABS @ Toronto.
Mannin's CEO, Dr. George N. Nikopoulos stated, "We are excited to be apart of JLABS @ Toronto. We see tremendous value in being a part of the JLABS network. We are also excited to increase our footprint within the Toronto biotechnology cluster as a global company working to make positive local impacts in the communities where we operate."
Mannin Research has taken up residency at JLABS @ Toronto as of January 2017.
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; uncertainties relating to preclinical and clinical testing; our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
Q BioMed Inc.
SOURCE Q BioMed Inc