Q BioMed Awarded Federal Supply Contract For Strontium89 With U.S. Department Of Defense And Veterans Affairs
Summary
- Strontium89.
- US DOD-VA & other Government Agencies.
- 5 Year FSS Agreement.
5-year contract makes Strontium89 available to over 9 million VA beneficiaries
NEW YORK, March 1, 2021 - Q BioMed Inc. (OTCQB: QBIO), a commercial stage biotech company, announced today that it has signed an agreement for Strontium89 (Strontium Chloride Sr-89 Injection, USP) to be included on the Federal Supply Schedule ("FSS"). The agreement provides U.S. veterans and other federal government agencies access to Strontium89 for eligible patients. The final FSS contract is effective March 1, 2021 and has a five-year term. The FSS contract will extend access to Strontium89 to over nine million VA beneficiaries and others within the federal system.
Veterans are at higher risk for prostate, breast, and lung cancer, the three most common cancers treated with Strontium89 if they become painfully metastatic to the bone. In fact, prostate cancer rates in the military are twice those in the general population1 and military personnel were found to be nearly 40 percent more likely to develop breast cancer2. Now these patients will be able to benefit from Strontium89 treatment for their metastatic bone pain.
In the Strontium89 pivotal trial, as many as 79% of patients had pain relief with Strontium89, and twice as many patients treated with Strontium89 had no pain for 3 months compared with placebo. Further, new pain sites were less frequent in patients treated with Strontium893 4. Strontium89 is administered once every 3 months via injection, and patients can be re-treated if needed. Please see Important Safety Information below.
Q BioMed is preparing commercially to serve the U.S. Department of Veterans Affairs (VA) and Department of Defense (DOD) with activities that include a VA sales force, formulary and market access, medical education, and marketing. Efforts will begin in March 2021 and build throughout the year as the FSS agreement is translated to clinical use.
“Q BioMed is very encouraged by this important milestone. This agreement further extends the commercial reach of Strontium89 to eligible adult patients suffering pain from metastatic bone cancer in the VA and other federal agencies," said Q BioMed CEO Denis Corin.
"Q BioMed is committed to helping those who serve and have served their country and their families. It is our hope that, through this agreement, we can make a positive impact on the lives of veterans affected by cancer."
1 Veterans and Prostate Cancer 2 https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2780333/pdf/nihms158630.pdf 3 STRONTIUM CHLORIDE Sr-89 INJECTION, USP THERAPEUTIC [PI]. Angleton, TX: IsoTherapeutics Group, LLC; 2020. 4 Porter AT, McEwan AJB, Powe JE, et al. Results of a randomized phase-III trial to evaluate the efficacy of strontium-89 adjuvant to local field external beam irradiation in the management of endocrine resistant metastatic prostate cancer. Int J Radiat Oncol Biol Phys. 1993;25(5):805-813.
For More: https://finance.yahoo.com/news/q-biomed-awarded-federal-supply-123000540.html
Learn more at www.Strontium89.com
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