QBiotics FY16 Update: $16m Raised, New Appointments to Board, Preparation for Further Registrations

The last 12 months has seen QBiotics strengthen both its board and balance sheet. Over the last 12 months, the company has raised $16m and will soon raise a further $10m, giving them a balance sheet of approx $30m. These funds will be used to further develop their two drug products EBC-46 (cancer) and WH-1 (wound healing).

The Board has also been strengthened with the following appointments:

• Rick Holiday Smith has been appointed as Chairman of QBiotics. Rick is currently the Chairman of the ASX (ASX:ASX) and Cochlear (ASX:COH)
• Dr Bruce Robinson has joined as a Non-Exec Director. Dr Robinson was Dean in the Faculty of Medicine at the University of Sydney and was Head of the Division of Medicine at the Royal North Shore Hospital
• Andrew Denver has also joined as a Non-Exec Director. He is a Director of Cochlear, Vaxxas Inc and SpeeDx Pty Ltd

QBiotics is also preparing for registration of EBC-46 for dogs by implementing the first part of its marketing strategy. In May this year CEO Dr Victoria Gordon did a presentation to specialist oncologists and general veterinary practitioners at the World Veterinary Cancer Congress in Brazil. They have also completed a major milestone in the Chemistry Manufacturing and Controls (CMC) program with the submission of the EBC-46 Common Technical Document (CTD) Phase 1 to the US FDA’s Centre for Veterinary Medicine (CVM). They has also recently commenced a Target Animal Safety Study (TASS) for the veterinary program after having obtained regulatory concurrence from the FDA-CVM.

ABOUT QBIOTICS LTD

QBiotics Limited is developing a pipeline of promising drugs in the area of cancer and wound healing. Its lead drug, EBC-46, targets solid tumours and is currently in late pre-clinical development in preparation for a Human Clinical Phase I/II trial with the USA’s FDA. EBC-46 is also in late stage development for the veterinary market through the USA’s FDA-CVM.