Trading Symbol: QPT: TSX Venture Exchange
EDMONTON, Dec. 5 /CNW/ - Quest PharmaTech Inc. ("Quest" or the "Company") is pleased to announce that it has been granted the following patents:
- Aliphatic amino-substituted demethoxylated Hypocrellins and their
synthesis for U.S.A. and Australia
- Perylenequinones for use with immunotherapy agent for Europe and
Australia
- Amino-substituted Hypocrellins for use as sonosensitizers for Europe
- Perylenequinones for use as photosensitizers and sonosensitizers for
Australia
In addition, Quest already has a worldwide license from the University of Alberta to U.S. patent number 6,627,664 for sonodynamic therapy applications.
"These patents strengthen our intellectual properties for the treatment of life threatening diseases and dermatological conditions using Hypocrellin derivatives activated by light or ultrasound," commented Dr. Selvaraj Naicker, Interim Chief Operating Officer and In-house Patent Officer for the Company.
In keeping with the Company's policy to protect its technologies, Quest has plans to obtain 8 different patents with 32 applications in six countries. Six of those patents will be directed towards SonoLight Technology.
SonoLight Technology is based on a unique non-toxic family of photosensitizing and sonosensitizing, small molecular weight, compounds called Hypocrellins, isolated from a parasitic fungus that grows on bamboo trees in China. The Company is developing these compounds as drugs for the treatment of prostate cancer, Actinic Keratosis, acne and hair removal.
The Company's lead product, SL017, is a topical formulation indicated for dermatology applications, the utility of which has already been demonstrated for hair removal applications in a Phase I clinical trial. The Company is in the process of initiating a fifty patient clinical trial for the same indication. Use of SL017 with a light-based hair removal device is anticipated to overcome some of the limitations associated with the light treatment alone, such as low efficacy on blond, red or white hair. In addition, SL017 is currently undergoing a Canadian Phase I clinical trial for Actinic Keratosis and is also being evaluated for acne treatment in a pig model.
A second product from the SonoLight platform, SL052, is an injectable formulation that is in late-stage pre-clinical development for prostate cancer treatment. SL052 will be delivered directly to the prostate by a unique delivery system thereby maximizing drug uptake and minimizing side effects.
The Company is also pleased to announce that it has received European patent 1,448,052 to protect its Bionex products in Europe. The Bionex lines of disinfectants are designed to deactivate human and animal pathogens in contaminated biological fluids, on hard surfaces and on human skin. The Company is actively seeking strategic partners to license and/or sell this technology.
In addition to the SonoLight and Bionex related patents, the Company also has a pending patent entitled "Rapamycin Peptides Conjugates Synthesis and Uses thereof" to protect its Cyclin Dependent Kinase Inhibitors (CDK) Technology for cancer treatment. This program is currently suspended pending improved financial position for the Company.
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 and sonodynamic therapy platform.
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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