Q BioMed Inc (OTCMKTS:QBIO) and ASDERA LLC reported a licensing deal that offers Q Biomed with the global rights to ASDERA’s ‘ASD-002’, which is being advanced to cure a rare pediatric nonverbal disorder. As per the agreement terms, the company has international rights to develop and market the drug in the rare pediatric disease industry.
Among over 60,000 U.S. children who suffer from autism spectrum disorders every year, 20,000 lose their ability to speak. The numbers are not any different in Europe and this group relies on assisted living for the entire life.
Denis Corin, the CEO of Q Biomed, reported that considering the severity of this ailment, and the massive emotional toll on these kids and their families, their objective is to move the offering forward by utilizing all the regulatory tools accessible to them to expedite the development of this drug candidate.
The cost for assisted living along with the treatment in the United States alone can equal or surpass $10 million per person over a lifetime. The projected cost to the U.S. healthcare setup and lost productivity is anticipated at $200 billion each. As of now, there is no treatment available for this disorder. Genetic and behavioral testing, and EEG can identify a targeted population of kids in their second year of life that they consider would respond to this therapy.
The CEO of Q Biomed added that they are extremely thrilled about the prospect of ASD-002 and expectantly this will permit thousands of kids annually to advance speech and live productive and independent lives.
ASDERA’s objective is to focus on advancing targeted treatments for ailments where there is a high unmet need. The company is grateful to be associated with Q Biomed, which witnessed the potential of ASD-002 and are dedicated to confirming that ASD-002 reaches its planned target patient population.