Quest PharmaTech Announces Treasury Issue of Common Shares
TSX Venture: QPT
EDMONTON, Oct. 25 /CNW/ - Quest PharmaTech Inc. (TSX-V: QPT) ("Quest" or the "Company"), a pharmaceutical company developing and commercializing products for the treatment of cancer, today announced that it has issued 3,500,000 common shares to Paladin Labs Inc. (TSX:PLB) ("Paladin") pursuant to a September, 2009 technology purchase agreement.
This represents the final issuance of common shares to Paladin under the purchase agreement (total common shares issued to Paladin - 5,000,000) and provides Quest with complete control on a going forward basis in connection with this promising technology of late stage immunotherapy product candidates.
About Quest PharmaTech Inc.
Quest is a publicly traded, Alberta-based biotechnology company committed to the development and commercialization of oncology product candidates. It is developing a series of products for the treatment of cancer based on its pipeline of SonoLight compounds; and monoclonal antibodies which target certain tumor antigens that are presented in a variety of cancers. Quest believes that by combining these antibodies with other cancer therapies such as chemotherapy, photodynamic therapy or radioimmuno-therapy, it can potentially further complement and enhance treatment outcomes compared to antibody treatment alone.
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.
%SEDAR: 00008400EFor further information: Dr. Madi R. Madiyalakan, Chief Executive Officer, Quest PharmaTech Inc., Tel: (780) 448-1400 Ext. 204, Email: email@example.com, Internet: www.questpharmatech.com