Trading Symbol: QPT:TSX Venture Exchange
EDMONTON, Nov. 9 /CNW/ - Quest PharmaTech Inc. ("Quest" or "the Company")
announces that it has signed a clinical trial agreement with Innovaderm
Research (Montreal, Quebec) to initiate human clinical studies on its topical
photodynamic product ACP-SL017 targeting the areas of hair removal and acne.
This planned study will be in addition to the Phase I clinical trial of ACP-
SL017 for photodynamic therapy of Actinic Keratosis ("AK"), which is currently
underway. The planned study is designed to evaluate the histological
localization of ACP-SL017 after topical application to patients with acne.
Quest PharmaTech and Innovaderm Research will prepare a submission to Health
Canada for approval of this study in the immediate future.
"We have preliminary evidence to suggest that SL017 may act beneficially
in several dermatological conditions" said Quest Vice President of Drug
Development, Thomas Woo "If we can prove this in a formal clinical setting,
then clearly this would be a very positive addition to our developmental
pipeline."
The Company continues to aggressively seek investment capital to sustain
long term development. In the meantime, it will only deploy its resources to
those programs which it considers have the best possibility of bringing near-
term value to the Company. Consistent with this strategy the Company has
suspended those development programs that do not directly support the ACP-
SL017 trials. Focus has been placed on the AK trial, acne/hair removal
programs, the preparation of a regulatory submission for the treatment of
prostate cancer and selection of the lead compound for the Company's
sonodynamic technology (ultrasound activation). Data from AK, acne and hair
removal will be available in the first quarter of 2006. As a result of this
focused strategy the company has terminated 5 employees.
About Innovaderm Research Inc.
Innovaderm Research Inc. is a contract research organization that
specializes in dermatological research and clinical studies, with extensive
expertise in acne research and photodynamic therapy. Dr. Bissonnette,
President of Innovaderm Research Inc. is an expert in topical photodynamic
therapy with experiences in both clinical and pre-clinical development of
topical photosensitizers.
About Quest PharmaTech Inc.
The Corporation is a publicly traded (TSX Venture Exchange: QPT),
Alberta-based pharmaceutical company committed to the development and
commercialization of new pharmaceutical products. It is developing a series of
products for the treatment of cancer and dermatological conditions based on
its unique photodynamic therapy platform. The Company also has a profitable
product in Accu-MAb(TM), a monoclonal-based diagnostic kit for whooping cough.
Except for historical information, this press release may contain
forward-looking statements, which reflect the Company's current expectation
regarding future events. These forward-looking statements involve risk and
uncertainties, which may cause but are not limited to, changing market
conditions, the successful and timely completion of clinical studies, the
establishment of corporate alliances, the impact of competitive products and
pricing, new product development, uncertainties related to the regulatory
approval process and other risks detailed from time to time in the Company's
ongoing quarterly and annual reporting.
"TSX Venture Exchange has neither approved nor disapproved of the
information contained herein."
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