Televet
5 months ago
QSAM Biosciences Signs Definitive Agreement to be Acquired by Telix Pharmaceuticals
Wed, February 7, 2024 at 1:00 PM PST·8 min read
I
Austin, TX, Feb. 07, 2024 (GLOBE NEWSWIRE) -- QSAM Biosciences Inc. (OTCQB: QSAM) (“QSAM or the “Company”) has signed a definitive Agreement and Plan of Merger (the “Agreement”) providing for the acquisition of the Company by Telix Pharmaceuticals Limited (ASX: TLX) (“Telix”).
Pursuant to the Agreement, QSAM stockholders will receive (i) $33.1 million in Telix ordinary shares (“Telix Shares”) or cash, less an adjustment amount equal to QSAM’s indebtedness and payables as of the merger closing (the “Closing Consideration”), and (ii) contingent value rights (“CVRs”) to receive future payments of up to $90 million upon the achievement of four clinical and commercial milestones within ten years of closing.
Prior to closing the merger, QSAM will effect a reverse stock split of its common stock in a ratio between 1:1000 and 1:2000. Each whole share of QSAM common stock outstanding after the reverse split will receive Telix Shares. Any remaining fractional shares of QSAM common stock resulting from the reverse split will be exchanged for an equivalent value in cash on a per share basis based on the per share price of Telix Shares as of the signing date of the Agreement. All QSAM stockholders will receive one CVR for each QSAM common share held prior to the reverse split.
Telix Shares issued to QSAM stockholders will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), but will be issued pursuant an exemption to the registration requirements thereunder, and more specifically, Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D; and as a result, will be subject to resale restrictions under Rule 144 of the Securities Act.
QSAM stockholders representing greater than a majority of the total voting stock of the Company have already approved the merger. Closing, however, is subject to various conditions set forth in the Agreement including, among others, the filing of a definitive information statement pursuant to Regulation 14C of the Securities Exchange Act of 1934, as amended (the “Information Statement”). The merger cannot be closed until 20 days after the mailing of the Information Statement to QSAM stockholders.
Dr. C. Richard Piazza, QSAM’s Executive Chairman and co-Founder, stated, “The signing of our Merger Agreement with Telix marks a major milestone for QSAM and our shareholders. We are thrilled to advance this transaction to signing and expect to complete the transaction in the first half of 2024, subject to the timing of our Information Statement and the satisfaction of customary closing conditions. We believe strongly that Telix is the right partner to advance Samarium-153-DOTMP through clinical trials and give this important technology the best chance to improve the lives of patients suffering from bone cancer. We are equally excited for our shareholders, as we believe this is a great outcome for their investments.”
Dr Christian Behrenbruch, Managing Director and Group CEO of Telix said, “The acquisition of QSAM provides Telix with an additional near-term therapeutic pipeline asset, further differentiating our innovation position in radiopharmaceuticals and building depth in Telix’s key disease focus areas of urological and musculoskeletal oncology. Samarium is a highly optimal radionuclide for treating bone metastases, and the combination of Orphan Drug Designation and Rare Pediatric Disease Designation status with Telix’s demonstrated experience in pharmacy-based cold-kit distribution has strong potential for a rapid pathway to commercialisation of this asset.”
Additional details about the Agreement, the CVRs and other material aspects of the merger and agreements and transactions contemplated by the merger will be provided in the Company’s Form 8-K to be filed subsequently with the SEC.
About Telix Pharmaceuticals Limited
Telix is a biopharmaceutical company focused on the development and commercialization of diagnostic and therapeutic radiopharmaceuticals and associated medical devices. Telix is headquartered in Melbourne, Australia with international operations in the United States, Europe (Belgium and Switzerland), and Japan. Telix is developing a portfolio of clinical-stage products that aims to address significant unmet medical needs in oncology and rare diseases. Telix is listed on the Australian Securities Exchange (ASX: TLX).
Visit www.telixpharma.com for further information about Telix, including details of the latest share price, announcements made to the ASX, investor and analyst presentations, news releases, event details and other publications that may be of interest. You can also follow Telix on X and LinkedIn.
Telix’s lead imaging product, gallium-68 (68Ga) gozetotide injection (also known as 68Ga PSMA-11 and marketed under the brand name Illuccix®), has been approved by the FDA,1 by the Australian Therapeutic Goods Administration (TGA),2 and by Health Canada.3
About QSAM Biosciences, Inc.
QSAM Biosciences, Inc. is developing next-generation nuclear medicines for the treatment of cancer and other diseases. QSAM’s initial technology, 153Sm-DOTMP, is a clinical-stage bone-targeting radiopharmaceutical originally developed by IsoTherapeutics Group LLC and now owned by IGL Pharma Inc.
Legal Notice Regarding Forward-Looking Statements: This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, as amended, related to QSAM, Telix and the proposed acquisition of QSAM by Telix. All statements other than statements of historical fact are forward-looking statements for purposes of federal and state securities laws. These forward-looking statements involve uncertainties that could significantly affect the financial or operating results of QSAM, Telix or the combined company. These forward-looking statements may be identified by terms such as anticipate, believe, foresee, expect, intend, plan, may, will, could, should and would and the negative of these terms or other similar expressions. Forward-looking statements in this document include, among other things, statements about the potential benefits of the proposed acquisition, including future financial and operating results, plans, objectives, expectations and intentions; statements about contingent cash consideration and related milestones as contemplated by the CVR Agreement; and the anticipated timing of closing of the acquisition. In addition, all statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to creating value for stockholders, benefits of the proposed transactions to customers, employees, stockholders and other constituents of the combined company, integrating our companies, cost savings, the expected timetable for completing the proposed transaction, and contingent cash consideration and related milestones as contemplated by the CVR Agreement — are forward-looking statements. These forward-looking statements involve substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, risks related to the satisfaction of the conditions to closing the acquisition in the anticipated timeframe or at all; risks related to the ability to realize the anticipated benefits of the acquisition, including the possibility that the expected benefits from the proposed acquisition will not be realized or will not be realized within the expected time period; risks related to the contingent cash consideration and related milestones as contemplated by the CVR Agreement, including that such milestone may not be achieved and thus the related cash consideration would not become payable; the possibility of business disruptions due to transaction-related uncertainty; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; the effects of the proposed acquisition (or the announcement thereof) on the trading price of QSAM’s common stock; the risk that the businesses will not be integrated successfully; disruption from the transaction making it more difficult to maintain business, contractual and operational relationships; the unfavorable outcome of any legal proceedings that have been or may be instituted against QSAM, Telix or the combined company, including the risk that stockholder litigation in connection with the proposed acquisition may result in significant costs of defense, indemnification and liability, or present risks to the timing or certainty of the closing of the transaction; the ability to retain key personnel; risks relating to the value of Telix’s shares to be issued in the transaction; significant transaction costs, fees, expenses and charges; unknown liabilities; the risk of litigation and/or regulatory actions related to the proposed acquisition; the financing of the transaction and QSAM’s interim operations; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; other business effects, including the effects of industry, market, economic, political or regulatory conditions; future exchange and interest rates; changes in tax and other laws, regulations, rates and policies; future business combinations or disposals; and competitive developments.
A further description of risks and uncertainties relating to QSAM can be found in our most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q and Current Reports on Form 8-K, all of which are filed with the SEC and available at www.sec.gov.
QSAM does not intend to update the forward-looking statements contained in this document as the result of new information or future events or developments, except as required by law.
QSAM Communications
ir@qsambio.com
Namrata Chand, VP-Operations
logytwo
1 year ago
QSAM Biosciences Adds the Nuclear Reactor at the University of Texas at Austin to its Radioisotope Production Supply Chain for its Bone Cancer Treatment Drug Candidate, CycloSam®
Press Release | 06/14/2023
Austin, TX, June 14, 2023 (GLOBE NEWSWIRE) -- QSAM Biosciences Inc. (OTCQB: QSAM), a clinical stage biotechnology company developing next-generation therapeutic radiopharmaceuticals for the treatment of cancer and other diseases and conditions, announced today the qualification and addition of the nuclear reactor at the University of Texas at Austin to its supply chain for the production of Samarium-153, the active radioisotope used in QSAM’s therapeutic radiopharmaceutical drug candidate, CycloSam® (Samarium-153 DOTMP), a potentially groundbreaking treatment for metastatic and primary bone cancer in adults and children.
QSAM is actively enrolling patients with metastatic bone cancer in a Phase I clinical trial across four clinical research centers in the United States. The qualification of the nuclear reactor at UT-Austin, QSAM’s second qualified reactor, increases the availability of Samarium-153 and provides logistical efficiencies for the production and administration of CycloSam® for current and future clinical trials, as well as the commercial supply of CycloSam® if ultimately approved by the FDA.
“As a radiopharmaceutical development company, it is important to be able to successfully replicate our production process across different nuclear reactors which adds capacity to produce and supply CycloSam® and further diversifies our overall supply chain risk,” stated Douglas R. Baum, CEO and co-founder of QSAM. “We have established a robust vetting and testing process to evaluate nuclear reactors to include in our supply chain. We are fully satisfied with the results and are pleased to incorporate UT-Austin into our network of qualified reactors. This addition will help us consistently and reliably produce CycloSam® for clinical research and, potentially, ultimate use by treating physicians and their patients.”
“We are pleased to work with QSAM Biosciences on the production of Samarium-153 using the nuclear reactor at the Nuclear Engineering Teaching Laboratory here at UT-Austin. Our mission is to improve the lives of the citizens of Texas and across the US. Our partnership with QSAM seeks to bring life-saving cancer treatments to Texans and Americans suffering from this disease,” said William S. Charlton, Director of the Nuclear Engineering Teaching Laboratory (NETL) at UT-Austin. NETL houses a 1.1-MW nuclear research reactor that is the newest research reactor in the US.
Samarium-153 (Sm-153) is a beta-emitting radioisotope that carries radiation designed and intended to disrupt tumor cell metabolism and cause cancer cell death. With a short 46-hour radiation half-life, Sm-153, in combination with the bone-seeking chelant DOTMP that is believed to significantly limit undesirable off-target migration of radiation to nearby healthy tissues, represents a potentially highly effective bone cancer treatment. The addition of qualified nuclear reactors is expected to support QSAM’s clinical research and future commercial supply of Sm-153 if approved by the FDA.
About QSAM Biosciences
logytwo
1 year ago
QSAM Biosciences Expands its Study of CycloSam® in the Treatment of Bone Cancer; Opens Patient Enrollment at Key Chicago Center, Insight Hospital and Medical Center
Austin, TX, May 23, 2023 (GLOBE NEWSWIRE) -- QSAM Biosciences Inc. (OTCQB: QSAM), a company developing next generation therapeutic radiopharmaceuticals, including Samarium-153-DOTMP (CycloSam®), for the treatment of bone cancer and other diseases and conditions, today announces the addition of the Insight Research Institute at the Insight Hospital and Medical Center in Chicago, IL, as a clinical trial site approved to begin enrolling participants into the Phase 1 study evaluating CycloSam® in patients with multiple types of bone cancer that either originated in or has metastasized to the bone.
QSAM’s study is a multiple center, open label, dose escalation clinical trial intended to determine the maximum tolerated dose of CycloSam® in patients, as well as assess early efficacy signals. Patients with bone cancer that has metastasized from the breast, lungs, prostate or other organs, as well as patients with cancer that has originated in the bone such as osteosarcoma and Ewing’s Sarcoma – diseases that mostly affect children and young adults -- may be eligible.
"We are pleased to be working with the excellent team at Insight Hospital and Medical Center to continue the expansion of our drug development program for CycloSam® in the large population center of Chicago,” stated Douglas R. Baum, CEO and co-founder of QSAM. “We expect the addition of this fourth clinical trial site will help advance our study, and it also constitutes the initial site that will be serviced through our recently announced partnership with the leading nuclear pharmacy network, Radioisotope Life Sciences, RLS.”
“Metastatic bone cancer is often life threatening and remains an area of high unmet medical need for patients with limited treatment options that are often ineffective,” stated Mohammed T. Hussain, MD, an Oncologist and the Investigator at Insight Hospital and Medical Center. “Therapeutic radiopharmaceuticals like CycloSam® represent a novel and potentially important treatment option for patients suffering from this debilitating and deadly disease.”
logytwo
1 year ago
QSAM Biosciences and RLS Announce Clinical and Commercial Supply Agreement for Promising Clinical-Stage Metastatic and Primary Bone Cancer Treatment, CycloSam®
Austin, TX and Lake Zurich, IL, May 16, 2023 (GLOBE NEWSWIRE) -- QSAM Biosciences, Inc. (OTCQB: QSAM), a clinical stage biotechnology company developing next-generation therapeutic radiopharmaceuticals, and RLS (USA) Inc., the third-largest nuclear medicine pharmacy network in the U.S., announced today a commercial supply and clinical dose preparation agreement for the therapeutic radiopharmaceutical drug candidate CycloSam® (Samarium-153 DOTMP), a promising clinical-stage treatment for metastatic and primary bone cancer in adults and children.
QSAM is actively enrolling patients with metastatic bone cancer in a Phase I clinical trial for CycloSam® across three clinical sites in the United States with additional sites planned. The RLS agreement allows for the rapid and efficient preparation of CycloSam® doses, under strict industry quality control systems, for patient administration in the current and future clinical trials with an option to expand to commercial scale if CycloSam® is ultimately approved by the FDA.
“We believe the short half-life of Samarium-153 with respect to patient exposure, toxicity and tolerability makes it an ideal drug to treat bone cancers. The ability to meet the potential demand requires a pharmacy network capable of preparing and timely delivering patient doses for administration,” said Douglas R. Baum, CEO and co-founder of QSAM. “The RLS network of 31 radiopharmacies across 18 states adds significant geographic coverage and infrastructure to our supply chain, along with an unprecedented level of on-the-ground expertise and credibility as the only accredited radiopharmacy network in the country. Choosing RLS as a partner will not only bolster our current and near-term clinical trials, but it may also provide the initial groundwork for eventual commercial supply and distribution.”
Samarium-153 (Sm-153) is a beta-emitting radioisotope that carries radiation designed and intended to disrupt tumor cell metabolism and cause cancer cell death. With a short 46-hour radiation half-life, Sm-153, in combination with the bone-seeking chelant DOTMP that significantly limits unwanted off-target migration of radiation to nearby healthy tissues, represents a potentially highly effective bone cancer treatment. The RLS agreement is expected to support QSAM’s clinical research and potential future commercial use of CycloSam®.
Stephen Belcher, CEO of RLS, added, “RLS is proud to partner with the talented management team at QSAM in support of these important clinical trials. With this announcement, we are deepening our commitment to building a world-class CDMO and clinical trial business and serving as a trusted, reliable partner for companies like QSAM developing the next-generation of nuclear therapies.”
About QSAM Biosciences
logytwo
1 year ago
QSAM Biosciences Receives Second Key Patent in Europe for its Clinical Stage Radiopharmaceutical Drug Candidate, CycloSam®
Press Release | 04/26/2023
Austin, TX, April 26, 2023 (GLOBE NEWSWIRE) -- QSAM Biosciences Inc. (OTCQB: QSAM), a company developing next-generation therapeutic radiopharmaceuticals, including Samarium-153-DOTMP (CycloSam®), for the treatment of cancer and other diseases, announced today that the European Patent Office (EPO) has allowed a key patent that protects the use of “lower specific activity” Samarium-153 in conjunction with the treatment of bone cancer in children and adults.
This new patent in Europe covers the “high purity therapeutic bone agents” technology exclusively licensed to QSAM on a worldwide basis and relates to the novel manner in which the Samarium-153 is produced for use in CycloSam®. In addition to providing streamlined manufacturing, lower costs and logistical advantages, that process significantly reduces long-lived impurities, namely Europium-154, which may allow for higher and multiple dosing regimens in the treatment of different types of bone cancer, including cancer that has metastasized from the breast, lung, prostate, kidney or other organs. These types of metastasized bone cancer are the subject of QSAM’s current FDA-cleared Phase 1 clinical trial which is underway and actively enrolling and dosing patients.
“We believe that repeated dose regimens of CycloSam® may be the key to being able to successfully treat bone tumors, and we are continuing to advance our clinical trials program to generate data toward that goal,” stated Douglas R. Baum, CEO and co-founder of the Company.
“This allowance by the EPO marks our second patent in Europe, and we expect to register the patent in multiple individual countries in the EU over the following few weeks, thereby expanding our already established and robust patent estate. More so, this additional IP protection broadens our potential commercial market for what we believe may eventually be a breakthrough therapy for both primary and secondary forms of bone cancer,” added Mr. Baum.
logytwo
1 year ago
04/05/2023
QSAM Biosciences Opens Enrollment of the Second Cohort of Patients in its Phase 1 Study of CycloSam® Targeting Metastatic Bone Cancer
Austin, TX, April 05, 2023 (GLOBE NEWSWIRE) -- QSAM Biosciences Inc. (OTCQB: QSAM), a company developing next generation therapeutic radiopharmaceuticals, including Samarium-153-DOTMP (CycloSam®), for the treatment of bone cancer and other diseases and conditions, today announces the opening of enrollment into the 2nd grouping of participants (Cohort 2) after completing Cohort 1 in February in its Phase 1 study evaluating CycloSam® in the treatment of bone cancer.
“We have met all criteria to continue patient enrollment at a higher dose level in the next group of patients,” stated Douglas R. Baum, CEO. “We are pleased with the safety data and early signs of efficacy, and we are now moving forward with three active clinical trial sites to continue to recruit, screen and enroll participants in this important study evaluating the safety and early efficacy of CycloSam® in patients with metastatic bone cancer."
QSAM’s study is a multiple-center, open label, dose escalation clinical trial intended to determine the maximum tolerated dose of CycloSam® in patients, and also assess early safety and efficacy signals. The total dosage of the active radioisotope Samarium-153 to be received by participants in the second cohort is 50% higher than the total dose received by participants in the first cohort.
Mr. Baum continued: “With almost $3 million in funding received in our recently completed private placement, and conversion of all of our outstanding convertible notes into common stock, QSAM is in a much stronger position to advance our clinical trials, achieve several important milestones this year, and create a solid foundation for growth and value creation.”
RandyKCMO
2 years ago
QSAM Biosciences Adds Rutgers Cancer Institute of New Jersey as Clinical Trial Site To Expand and Advance Study of CycloSam® in the Treatment of Bone Cancer
Austin, TX, Oct. 26, 2022 (GLOBE NEWSWIRE) -- QSAM Biosciences, Inc. (OTCQB: QSAM), a company developing next generation therapeutic radiopharmaceuticals, including Samarium-153-DOTMP (CycloSam®), for the treatment of bone cancer and related diseases and conditions, today announces the addition of Rutgers Cancer Institute of New Jersey (RCINJ) as a clinical trial site approved to begin enrolling patients into the Phase 1 study evaluating CycloSam® in treating patients with bone cancer that either originated in or has metastasized to the bone.
RCINJ is part of Rutgers Health and New Jersey’s only National Cancer Institute (NCI) – designated Comprehensive Cancer Center, an elite recognition that is granted competitively to institutions based on their scientific leadership, resources, and outstanding track record of research discoveries and ability to translate these discoveries to benefit cancer patients. RCINJ is QSAM’s second trial site approved to enroll patients in this study.
QSAM’s study is a multiple center, dose escalation clinical trial intended to determine the maximum tolerated dose of CycloSam® in patients, and also assess early efficacy signals. Patients with bone cancer that has metastasized from the breast, prostate, lung, or other organs are eligible to enroll in the study. Additionally, osteosarcoma and Ewing’s Sarcoma bone cancer patients, diseases that mostly affect children and young adults, are also eligible.
"The addition of Rutgers as our second clinical trial site will allow us to advance our study more rapidly in this major northeast population center,” stated Douglas R. Baum, CEO. “We are pleased and honored to have the participation of the outstanding Rutgers CINJ team, who brings a substantial depth of knowledge and clinical development experience to our trials for CycloSam®."
“We look forward to being part of this important clinical trial evaluating this new and novel formulation of Samarium-153 as a therapeutic,” stated Sanjay Goel, MD, Director of Phase I/Investigational Therapeutics and Medical Oncologist who will serve as the Investigator for the clinical trial site located in New Brunswick, NJ. “New treatment options for primary and metastatic bone cancer are very much needed and therapeutic radiopharmaceuticals such as CycloSam® offer potential benefits for these patients,” Dr. Goel added.
Adults with bone cancer that has migrated or metastasized from the prostate, breast, or lung is common and frequently fatal. QSAM is dedicated to developing its Cyclosam® drug candidate for this important patient population to address this major unmet medical need, and patients with any of these bone cancer types are eligible for this clinical trial. Osteosarcoma, while still a rare pediatric disease, is the most common form of bone cancer in children and young adults (ages 15-39) with primary high-grade bone malignancy, and Ewing’s Sarcoma bone cancer is the second most common form of bone cancer in children. According to the Cancer Facts & Figures 2021 produced by the American Cancer Society, there are about 400,000 new cases of malignant bone metastasis and 3,610 new cases of primary bone cancer diagnosed in the United States each year.
About QSAM Biosciences
QSAM Biosciences, Inc. is developing next-generation nuclear medicines for the treatment of cancer and related diseases. QSAM’s initial technology, CycloSam® (Samarium-153 DOTMP), is a clinical-stage bone-targeting radiopharmaceutical developed by IsoTherapeutics Group LLC, pioneers in the nuclear medicine space who also developed the FDA-approved Quadramet® (Samarium-153 EDTMP) radiopharmaceutical product, which is indicated for pain palliation. QSAM is led by an experienced executive team and board of directors that have completed numerous FDA approvals and multiple successful biotech exits.
CycloSam® has demonstrated preliminary safety and efficacy in animal studies and a single patient FDA-cleared human trial performed in 2020 at the Cleveland Clinic. This nuclear technology uses low specific activity Samarium-153 (resulting in far less long-lived europium impurities) and DOTMP, a chelator which is believed to reduce or eliminate off-target migration and targets sites of high bone turnover, making it, in management’s opinion, an ideal agent to treat primary and secondary bone cancers. Since CycloSam® delivers targeted radiation selectively to the skeletal system and to bone tumors, it is also believed to be a candidate for effectiveness trials in bone marrow ablation as preconditioning for bone marrow transplantation, as well as in procedures to reduce external beam radiation to bone tumors. This multi-patented drug candidate utilizes a radioisotope previously approved by the FDA combined with a novel chelant, DOTMP, that has demonstrated preliminary increased efficacy and decreased side effects in animal models and veterinary treatment of bone cancer in dogs. Further, CycloSam® utilizes a streamlined, just-in-time manufacturing process that is already in place. Given these factors, management believes there is a strong pathway to commercialization for CycloSam®.
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, regulatory risks, clinical trial risks, early stage versus late-stage product safety and efficacy, 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, climate-related risks 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.
Corporate Communications
Namrata Chand, VP Operations
ir@qsambio.com
RedStone Communications, LLC
Marlin G. Molinaro, Sr. Vice President
Henderson, NV. 89014
725-205-1122 - Office
702-575-7445 - cell
RandyKCMO
2 years ago
News / Informational Release: QSAM Biosciences Inc. (QSAM) Working to Halt, Regress Bone Tumors in Children Through Therapeutic Radiopharmaceuticals
* Overall incidence of childhood cancer is on the increase, averaging 0.8% increase per year since 1975, reports leading advocacy organization
* QSAM developing therapeutic radiopharmaceuticals as safer, more efficacious alternatives to address unmet medical needs, underserved patient populations
* Company creating pipeline of novel radiotherapeutics to serve multiple indications with its lead product,
With the overall incidence of childhood cancer on the rise, the work of QSAM Biosciences (OTCQB: QSAM) is becoming increasingly important. QSAM Biosciences is a clinical-stage biotechnology company focused on developing and bringing to market targeted therapeutic radiopharmaceuticals and advancing the fight against cancer, including the underserved pediatric population.
“The overall incidence of childhood cancer is on the increase, averaging 0.8% increase per year since 1975. Overall cancer incidence rates increased an average of 1% per year from 1997 to 2018,” reports Children’s Cancer Cause, the leading national advocacy organization for children’s cancer (https://ibn.fm/foz9V).
According to Children’s Cancer Cause, in 2022 an estimated 10,470 children (from birth to 14 years) and 5,480 adolescents (aged 15 to 19 years) will be diagnosed with cancer. “It is estimated that there will be 13.7 million cases of childhood cancer between 2020-2050. Unless there are major improvements in diagnosis and treatments, of this, 45% will go undiagnosed and 11.1 million will die if no further investments in interventions are made. The vast majority, almost 85%, will be concentrated in developing countries.”
The group went on to note that cancer in children and young adults is different from cancer that develops in adults. “Some of the unwanted side effects of cancer treatments cause more harm to children than they do to adults,” the report states. “This is because children’s bodies are still growing and developing, so cancer and its treatment are more likely to affect developing organs.
“More than 95% of childhood cancer survivors will have a significant health-related issue by the time they are 45 years of age,” the report continued. “These health-related issues are side effects of either the cancer or, more commonly, the result of its treatment: one-third will suffer severe and chronic side effects, one-third will suffer moderate to severe health problems, and one-third will suffer slight to moderate side effects.”
QSAM Biosciences is working to make a difference in this space, as well as in the adult cancer sector. The company is developing “targeted therapeutic radiopharmaceuticals as safer and more efficacious alternatives to current treatment modalities to address large unmet medical needs and underserved patient populations” (https://ibn.fm/gE7c6).
With that in mind, QSAM is focused on creating a pipeline of novel radiotherapeutics to serve multiple indications. The company’s lead product, CycloSam(R), is a clinical-stage, bone-seeking radiopharmaceutical designed to deliver targeted radiation safely and precisely to tumors in the bone.
“CycloSam delivers the beta-emitting radioisotope, Samarium-153, to areas of rapid bone formation through a superior chelant, DOTMP, emitting a potent yet controlled dose of radiation treatment directly to the tumor environment while minimizing radiation exposure to healthy tissue,” the company reports. “The results we seek are halting or regressing primary and metastatic tumors in bone for both children and adults. . . . CycloSam is the next generation of an already FDA-approved drug, with patented improvements to increase efficacy and utility, reduce toxicity, and streamline production.”
For more information, visit the company’s website at www.QSAMbio.com.
https://www.investorwire.com/news-articles/qsam-biosciences-inc-qsam-working-to-halt-regress-bone-tumors-in-children-through-therapeutic-radiopharmaceuticals/
RandyKCMO
2 years ago
From what I can tell Bolin was bought out when the merger took place and the table below shows that Chris Nelson owns 5.7%. Hardly a control position. Seems to me he's hitched his wagon to those whom he believes will be successful in the future.
From the last 10-K Dated (February 24, 2022)
Shares Beneficially
owned(1) Percent of Class Beneficially Owned(7)
C. Richard Piazza 10,156,300 (2) 15.3%
Douglas Baum 10,183,050 (3) 15.3%
Christopher Nelson. 3,761,607 (4) 5.7%
Joel Mayersohn 935,456 (5) 1.4%
Charles J. Link, Jr. 2,911,443 (6) 4.4%
Adriann Sax - -
Adam King - -
All Officers and Directors (as a group, 7 persons)
27,947,856 42.0%
The most recent 10Q was filed on May 16, 2022 reflects the last Reflects the March 10, 2022 40:1 Reverse... and now shows the outstanding shares to be 1.7 Million with 302K in the float. The percentages will remain the same and the number of shares will be reduced by a factor of 40:1.
C. Richard Piazza 253,908 (2) 15.3%
Douglas Baum 253,908 (3) 15.3%
Christopher Nelson. 94,040 (4) 5.7%
Joel Mayersohn 23,386 (5) 1.4%
Charles J. Link, Jr. 72,786 (6) 4.4%
Adriann Sax - -
Adam King - -
All Officers and Directors (as a group, 7 persons)
698,696 42.0%
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ChuckFinley305
2 weeks ago
Renee
2 months ago
