Business
Quest PharmaTech Announces a Review of Strategic Alternatives to Enhance Shareholder Value
TSX Venture: QPT EDMONTON, Feb. 2 /CNW/ - Quest PharmaTech Inc. (TSX-V: QPT) ("Quest" or the "Com...
About this update from Quest Pharmatech Inc.
[{"type":"text","content":"\n\n\n\nTSX Venture: QPT\n\n\nEDMONTON, Feb. 2 /CNW/ - Quest PharmaTech Inc. (TSX-V: QPT) ("Quest" or\nthe "Company"), a pharmaceutical company developing and commercializing\nproducts for the treatment of cancer and dermatological conditions, announces\nthat it has entered into an agreement with Loewen, Ondaatje, McCutcheon\nLimited ("LOM") to provide financial advisory services in connection with\nvarious business development opportunities.\n\n\n"The current capital market conditions have provided us with alternative\nstrategic opportunities including mergers and acquisitions, strategic\npartnerships and monetizing certain capital assets," said Dr. Madiyalakan,\nChief Executive Officer for Quest. "In order to position the Company for\nfuture growth and to increase shareholder value, we are evaluating these\nalternatives with the help of LOM." In addition, Quest would also like to\nleverage the valuable clinical and preclinical data it has generated from its\nproprietary SonoLight Technology, as well as the continuing support from its\ncurrent shareholders.\n\n\nQuest also announces the grant of 300,000 stock options to its three\nindependent board members at an exercise price of $0.15. All allocations will\nbe subject to approval of the TSX Venture Exchange.\n\n\nQuest has four product candidates in development based on its proprietary\nSonoLight Technology. SL017, for hair removal, is currently in a Phase II,\n110-patient clinical trial. SL017, for the treatment of actinic keratosis, has\nbeen shown to be safe and well tolerated in a Phase 1 dose-escalation clinical\ntrial. SL017, for the treatment of acne, has completed evaluation in a Phase 1\nclinical trial. SL052, which is being developed to treat prostate cancer, has\ncompleted preclinical studies.\n\n\nAbout Quest PharmaTech Inc. Quest is a publicly traded, Alberta-based\npharmaceutical company committed to the development and commercialization of\nnew pharmaceutical products. It is developing a series of products for the\ntreatment of cancer and dermatological conditions based on its unique\nphotodynamic and sonodynamic therapy platforms.\n\n\nAbout Loewen, Ondaatje, McCutcheon Limited. Founded in 1970 as Loewen,\nOndaatje, McCutcheon & Company, LOM was the first independent research-based\ninstitutional equity firm...