Business
Madenco Biosciences Announces Licensing Agreement for Patented EGF Wound Healing Technology
Madenco Biosciences Announces Licensing Agreement for Patented EGF Wound Healing Technolog...
About this update from Quest Pharmatech Inc.
[{"type":"text","content":"\n\n\n\nMadenco Biosciences Announces Licensing Agreement for Patented EGF Wound Healing Technology\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nEDMONTON, Jan. 3, 2018\n\n\n\nEDMONTON, Jan. 3, 2018 /CNW/ - Madenco Biosciences Inc. (\"Madenco\"), a subsidiary of Quest PharmaTech Inc. (TSX-V: QPT) (\"Quest\"), focused on bringing clinically validated products to the consumer and dermatology market by utilizing proprietary transdermal delivery technologies, announces the signing of an exclusive worldwide license agreement with Stanford University to develop and commercialize patented EGF wound healing technology in return for undisclosed upfront and milestone payments.\n\nThe technology was invented by Dr. Jennifer Cochran, associate professor of bioengineering at Stanford University, and is jointly owned by Stanford University and Massachusetts Institute of Technology. This new class of engineered EGF molecules have about 30 times more receptor-binding affinity than natural EGF and are protected by two U.S. patents. The technology can also be combined with Quest's SP Technology to further enhance its effectiveness. Its application includes wound healing as well as for use in cosmetics.\n\n\"We are excited for this opportunity to develop the wound healing technology\" said Dr. Madi Madiyalakan, CEO of Madenco/Quest. \"Natural EGF molecules used for wound healing only remain in the wound site for a few minutes before they are dispersed. The new engineered EGF molecules with higher receptor binding affinity can prolong the residence time remarkably and enhance the biological effect\", added Dr. Madiyalakan. \n\nMadenco is currently marketing Bellus Skin™ Serum, a clinically validated anti-aging skin serum proven to reduce the appearance of wrinkles and signs of aging using SP-Technology™ to deliver fusion proteins targeting growth factors into the skin. Bellus Skin™ Serum is also available for purchase online at www.bellusskin.com.   \n\nOn a corporate matter, Quest announces the granting of 500,000 stock options ...