Biotechs Working Closely & Feverishly With CDC for COVID-19 Vaccine Development - Seite 2

Q BioMed Inc. (OTCQB:QBIO) BREAKING NEWS:  Q BioMed Enters into a Financial Restructuring of Approximately $7,800,000 Consisting of $4,000,000 New Cash and a minimum of $3,800,000 of Debt Conversion - Q BioMed, a commercial stage biotech company, announced today the entering of a significant financial transaction with its lead investor, Yorkville Advisors Global ("YA"). Under the agreement, on closing, YA will have converted a minimum of $3,800,000 into common stock and preferred stock and may convert an additional $500,000 which would be the total debt held by them. As part of the agreement, YA will fund up to an additional $4,000,000 in new capital over the next 2 weeks.

This restructuring of the debt and new capital transforms the Company's balance sheet creating significant positive shareholder equity, a requirement for a Nasdaq listing. The new capital injection will provide enough runway for the Company to implement its full commercial plan as it brings its FDA approved non-opioid, Strontium89 Chloride USP Injection drug to market.

Denis Corin, QBioMed CEO said, "In addition to the rollout of our Strontium89 drug, this funding allows us to advance other key pipeline assets such as our infectious disease platform including a potential treatment for COVID-19, influenza and others, liver cancer therapy Uttroside B and our rare disease drug development in non-verbal autism spectrum disorders."

Along with the revenue expected from Strontium89 sales and the significant non-dilutive grant funding available from the Mannin platform, Q BioMed does not anticipate needing more capital until the first quarter of 2021, if not well beyond.   Read this entire release and more news for QBIO at:  https://www.financialnewsmedia.com/news-qbio/   

Other recent developments in the biotech industry include:Vir Biotechnology, Inc.

(NASDAQ: VIR) and GlaxoSmithKline plc (NYSE: GSK) recently announced they have signed a binding agreement to enter into a collaboration to research and develop solutions for coronaviruses, including SARS-CoV-2, the virus that causes COVID-19.  The collaboration will use Vir's proprietary monoclonal antibody platform technology to accelerate existing and identify new anti-viral antibodies that could be used as therapeutic or preventative options to help address the current COVID-19 pandemic and future outbreaks. The companies will leverage GSK's expertise in functional genomics and combine their capabilities in CRISPR screening and artificial intelligence to identify anti-coronavirus compounds that target cellular host genes. They will also apply their combined expertise to research SARS-CoV-2 and other coronavirus vaccines.