BRIEF—Q BioMed acquires cancer pain drug Metastron

US biotech Q BioMed has entered into agreement to acquire the metastatic skeletal cancer palliation drug, Metastron (strontium-89 chloride), from GE Healthcare.

The agreement gives Q BioMed ownership of the brand, trademarks and market authorizations in 22 countries.

In addition, all historical and current sales and distribution data related to those market authorizations will be assigned or transferred to Q BioMed to allow for as seamless a transition as possible in all markets.

The acquisition agreement with GE Healthcare covers the purchase of the radiopharmaceutical drug Metastron and all related intellectual property (IP) including, but not limited to the brand, sales and distribution data, patent, trademark and market authorizations for Metastron in 22 countries in exchange for an undisclosed upfront payment, one milestone payment based on sales and a single digit royalty for 15 years.

The first commercial sale of Metastron is expected to occur after the successful transfer or assignment of all IP, material sales and distribution data, technical transfer and establishment of manufacturing capabilities to be made by Q BioMed under the appropriate regulatory filings required by the jurisdictions in which Metastron is sold.

The complete transfer and establishment of approved manufacturing facilities will take several months with the relevant international health authorities.