Palm Beach, FL, Jan. 22, 2020 (GLOBE NEWSWIRE) -- Q2Earth, Inc. ( QPWR) (the “Company” or “Q2”) announced today that it has signed an Exclusive Dealing Option Agreement to provide the Company a 90-day period to negotiate with IGL Pharma Inc., and potentially execute a worldwide, exclusive license agreement for the radiopharmaceutical Samarium-153 DOTMP (“Sm-153 DOTMP”). Sm-153 DOTMP is a promising drug with initial indications for pediatric osteosarcoma, a devastating form of bone cancer afflicting children.
The option to license Sm-153 DOTMP was brought to the Company by its newest Director, Douglas Baum, a senior executive with over 28 years of experience in biosciences and drug and medical device commercialization. IGL Pharma is an affiliated entity of ISOTherapeutics Group, LLC, whose founders created Quadramet® (Samarium-153-EDTMP) one of the first effective commercial radiopharmaceuticals.
Sm-153-DOTMP uses low specific activity Samarium-153 and a superior chelator, DOTMP, which eliminates off-target migration and targets high bone turn over making it an ideal agent to treat osteosarcoma, bone metastases and to perform bone marrow ablation. Sm-153 DOTMP has been cleared by the FDA under an investigator IND to commence human dosing of actual patients – children with osteosarcoma.
“This is a very interesting and meaningful opportunity for Q2. And while entry into the human health sector is a departure from soil health, it is our responsibility to pursue viable opportunities that can potentially create significant value for our shareholders. Such a license would be consistent with our 2020 strategic plan to secure new biosciences technologies, and possibly help us raise additional capital and repay currently maturing debt,” stated Kevin Bolin, the Company’s Chairman and CEO.
Mr. Baum, Director of Q2, stated: “If we are successful in securing the license for Samarium-153 DOTMP, I am confident that we can quickly assemble the team needed to commence clinical trials for this very important new drug. Based on my research and experience in this field, I believe Sm-153 DOTMP has a good chance of an expedited path through FDA, and an end market into multiple indications for cancer therapy.”
About Q2Earth: Q2Earth currently manages compost and soil manufacturing facilities, and holds a license for an all-natural soil health supplement called ABS. The Company is pursuing additional licensing opportunities in biotech and biosciences that will expand its intellectual property portfolio and create new business opportunities.
Legal Notice Regarding Forward-Looking Statements: This news release contains "Forward-looking Statements". These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to our ability to fully commercialize our technology, risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new products and markets, the time and expense involved in such development activities, the ability to secure additional financing, the ability to consummate acquisitions and ultimately integrate them, the level of demand and market acceptance of our products, and changes in our business strategies. This is not an offering of securities and securities may not be offered or sold absent registration or an applicable exemption from the registration requirements
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