It comes after its partnership with Sphaera Pharma has successfully developed a new and proprietary analog of QBM-001.
This new novel analog was selected from an array of candidates that Sphaera Pharma's patented platform produced.
As reported last month, Q BioMed struck a partnership with Sphaera Pharma to develop a new analog for the drug, the license for which it acquired from the firm ASDERA in April this year.
"We are very pleased to have successfully reached our developmental milestone with great results thus far, putting us in position to help these young children as well as their parents and caregivers," said Denis Corin, chief executive of Q BioMed.
"We are highly motivated to develop a drug and delivery system that will accommodate their very specific needs.
"As a result of meeting this milestone, we are now in a position to move QBM-001 into the clinic as quickly as possible."
Around 20,000 new cases of the disorder are diagnosed in the USA each year and a similar amount in Europe.
The condition is one that affects very young (1 to 2yrs of age) children who are on the autistic spectrum.
The result is known as a ‘non-verbal disorder’ and is accompanied with developmental delay, where the toddlers either never learn to speak or lose the ability to speak.
The complete panel of preclinical testing is scheduled to finish in January of 2018.
Alongside this, Q BioMed is pursuing cGMP (current good manufacturing practice) manufacturing and regulatory filings in preparation for the IND (investigational new drug) application.
Q BioMed shares added 0.26% to US$3.85 each.