Quest PharmaTech Announces Strategic Alliance with IntelligentNano to Develop Nanotechnology-Based Next Generation SL052

    TSX Venture: QPT

    EDMONTON, March 18 /CNW/ - Quest PharmaTech Inc. (TSX-V: QPT) ("Quest" or
the "Company"), a pharmaceutical company developing and commercializing
products for the treatment of cancer and dermatological conditions, today
announced that it has formed a strategic alliance with IntelligentNano Inc.
and, as a result of the alliance, the two groups have created a water soluble
nano-formulation of Quest's SL052 technology, which has the potential to
address a wider range of clinical needs than Quest's current formulation of
SL052.
    "We have successfully used nanoparticles to make SL052 water soluble
while maintaining the biological activity of the drug, whether activated by
light or ultrasound," said Dr. Jie Chen, Chief Technology Officer for
IntelligentNano, a spin-off company from the Canadian National Research
Council's National Institute for Nanotechnology.
    "The fulfillment of a second tier of targetable, water-soluble
nano-formulations of the SonoLight compounds represents major progress in the
adaptation of Hypocrellin-based photodynamic and sonodynamic therapy to a wide
spectrum of clinical needs including cancer treatment," stated Dr. Madi R.
Madiyalakan, Chief Executive Officer at Quest.
    The alliance between Quest and IntelligentNano was forged to explore the
potential of nanotechnology to provide a multiplicity of biocompatible drug
delivery systems for clinical applications of Quest's proprietary SonoLight
technology platform. Current SonoLight photosensitizer and sonosensitizer
formulations are based upon liposomal drug delivery systems which target the
drug to the desired sites of photodynamic or sonodynamic therapies. Quest
intends to initiate a series of preclinical studies with these new
formulations and arrive at a clinical plan for Quest's second cancer
indication.
    The results from the product development initiative will be presented at
the prestigious Institute of Electrical and Electronics Engineers, Inc.
/National Institute of Health conference (IEEE/NIH) to be held on April 9,
2009 at the National Institute of Health in Maryland, USA.
    The strategic alliance between Quest and IntelligentNano was made
possible by financial and strategic support from the National Research
Council's Industrial Research Assistance Program (NRC-IRAP).
    Quest also announced today that it has received a one-year extension for
the repayment of its $500,000 convertible debenture. The repayment of the
debenture, which is exercisable at $0.25 per common share, was originally due
on March 22, 2009. Payment is now due on March 22, 2010.

    About the SonoLight Platform

    SL017 and SL052 represent members of Quest's SonoLight Portfolio with the
potential to reduce or eliminate the side effects associated with currently
available cancer treatment modalities: surgery, chemotherapy and radiotherapy.
Their properties of activation with harmless physical agents (light or
ultrasound), combined with their ability to generate cancer vaccines and
stimulate an anti-cancer immune response, warrant further development in a
broad-spectrum oncology arena. Quest intends to initiate a Phase I trial to
evaluate SL052 as a localized treatment for prostate cancer. Development of
second generation drug delivery systems provides greater flexibility with
regards to treatment of a wide variety of diseases throughout the body.

    About Quest PharmaTech Inc.

    Quest is a publicly traded, 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 platforms.

    About IntelligentNano Inc.

    IntelligentNano is a private company, founded by Dr. Jie Chen and Dr.
James Xing from the University of Alberta, with a mandate to harness the
burgeoning potential of nanotechnology and convert it into practical benefits
to the field of medicine and pharmaceuticals.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.

For further information: Dr. Madi R. Madiyalakan, Chief Executive
Officer, Quest PharmaTech Inc., Tel: (780) 448-1400 Ext. 204, Email:
madi@questpharmatech.com, Internet: www.questpharmatech.com; Media and
Investor Relations: Adam Peeler, The Equicom Group Inc., Tel: (416) 815-0700
Ext. 225, Email: apeeler@equicomgroup.com