NEW YORK—Q BioMed Inc. recently acquired Metastron, a metastatic skeletal cancer palliation drug, from GE Healthcare. Per the agreement, Q BioMed gains ownership in 22 countries. The acquisition covers Metastron and all related intellectual property, including the brand, trademarks, sales and distribution data, patent and market authorizations. In return, Q BioMed will pay an undisclosed amount up front, as well as one sales-based milestone payment and a single-digit royalty for 15 years.

 

“This gives us a tremendous springboard to accelerate our revenue potential and establishes a formidable barrier to entry as we grow this market. With regards to the market, it is important to note that our focus is not on the short-term horizon, but rather on the long-term strategic initiative as we look two and five years down the road at expanding the therapeutic scope for the drug,” Q BioMed CEO Denis Corin said regarding the acquisition.