EDMONTON, April 22 /PRNewswire-FirstCall/ - Quest PharmaTech Inc.
("Quest" or the "Company") is pleased to announce that it will receive
generous support from NRC-IRAP towards the development of Quest's
Sonodynamic Therapy (SDT) for oncology applications.
Sonodynamic Therapy arises out of the Company's long-term interest in
Hypocrellin-based photodynamic therapy for oncology and skin diseases. The
Company's lead compound, SL017, with Intense Pulse Light is currently being
evaluated for hair removal applications in a 90 patient Phase II clinical
trial. A second product, SL052, in combination with laser light activation
is in late-stage pre-clinical development for prostate cancer treatment and
is scheduled to enter a Phase I clinical trial during the second half of
2008. Both products can also be activated by ultrasound.
SDT involves the administration of non-toxic pharmaceutical agents
which may be activated deep within the body, by ultrasound, which is in
itself non-toxic. The attractive features of this technology for cancer
treatment emerges from the ability to focus the ultrasound energy on
malignancy sites buried deep in tissues and to locally activate a preloaded
sonosensitizer. The goal of SDT is to provide effective and specific
eradication or control of tumors, while minimizing or eliminating toxicity
and morbidity to the remainder of the patient.
Financial support of up to $198,362 from NRC/IRAP will help the Company
to obtain proof-of-concept for the use of its proprietary Hypocrellin-based
compounds for Sonodynamic Therapy applications. Technology development will
also include new formulations involving nanoparticles and development of
unique ultrasound transducers. In addition to the financial support, IRAP
will continue to play an advisory role in acquiring complementary
technologies to commercialize SDT-based products. The overall program will
be coordinated by Dr. Gerald Miller, Executive Consultant to the Company
and former Research Professor at the Faculty of Pharmacy and Pharmaceutical
Sciences, University of Alberta.
"It is the strategy of the Company to add value to its oncology program
by expanding the utility of Hypocrellin-based products for Immuno
Photodynamic Therapy and Sonodynamic Therapy applications", said Dr. Madi
R. Madiyalakan, CEO of the Company. "The current funding from NRC/IRAP, and
recently signed collaborative research agreement with British Columbia
Cancer Agency will help us accomplish that objective in an efficient
manner", added Dr. Madiyalakan.
The Company also announces that it has retained the consulting services
of Dr. Graeme Boniface to help accelerate its clinical trial program. Dr.
Boniface was previously Senior Director of Clinical research at QLT Inc. in
Vancouver, where he led the clinical development of several
photosensitizers for oncology indications. Dr. Boniface brings more than 25
years of experience in conducting clinical trials throughout the world.
Additionally, the Company believes that its partnership with Paramount
Biosciences for dermatology program will help achieve its long-term growth
objectives, including additional clinical trials for dermatology
About Quest PharmaTech Inc: Quest PharmaTech Inc. is a publicly traded
(TSX Venture Exchange: QPT), Alberta-based pharmaceutical company committed
to build shareholder value through discovery, 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.
"TSX Venture Exchange has neither approved nor disapproved of the
information contained herein."
SOURCE Quest PharmaTech Inc.