Q BioMed (OTCQB:QBIO) announced today that it signed an agreement for its Strontium89 drug to be included on the Federal Supply Schedule (FSS).
New York-based Q BioMed’s agreement with the U.S. government provides U.S. veterans and other federal government agencies and eligible patients access to Strontium89, a treatment for metastatic bone pain related to common cancers, according to a news release.
The final FSS contract was made effective March 1, 2021, and consists of a five-year term as it extends access to the drug over 9 million VA beneficiaries and others within the federal system.
Strontium89 is administered once every three months via injection. In a pivotal trial of the drug, as many as 79% of patients experienced pain relief with Strontium89, while twice as many patients treated with it had no pain for three months compared to the placebo group. Additionally, new pain sites were less frequent in patients treated with Strontium89.
Q BioMed plans to commercially serve the U.S. Dept. of Veterans Affairs and the Defense Dept. with a VA sales force, formulary and market access, medical education and marketing. The company plans to begin its commercialization efforts in this area this month while building throughout 2021.
“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,” Q BioMed CEO Denis Corin said in the release. “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.”
