TSX Venture: QPT
"The current capital market conditions have provided us with alternative strategic opportunities including mergers and acquisitions, strategic partnerships and monetizing certain capital assets," said Dr. Madiyalakan, Chief Executive Officer for Quest. "In order to position the Company for future growth and to increase shareholder value, we are evaluating these alternatives with the help of LOM." In addition, Quest would also like to leverage the valuable clinical and preclinical data it has generated from its proprietary SonoLight Technology, as well as the continuing support from its current shareholders.
Quest also announces the grant of 300,000 stock options to its three independent board members at an exercise price of
Quest has four product candidates in development based on its proprietary SonoLight Technology. SL017, for hair removal, is currently in a Phase II, 110-patient clinical trial. SL017, for the treatment of actinic keratosis, has been shown to be safe and well tolerated in a Phase 1 dose-escalation clinical trial. SL017, for the treatment of acne, has completed evaluation in a Phase 1 clinical trial. SL052, which is being developed to treat prostate cancer, has completed preclinical studies.
About Quest PharmaTech Inc. Quest is a publicly traded,
About Loewen, Ondaatje, McCutcheon Limited. Founded in 1970 as Loewen, Ondaatje, McCutcheon & Company, LOM was the first independent research-based institutional equity firm in
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SOURCE Quest PharmaTech Inc.