Quest PharmaTech Announces Results from its 2012 AGM

TSX Venture: QPT

EDMONTON, July 31, 2012 /CNW/ - Quest PharmaTech Inc. (TSX-V: QPT) ("Quest" or the "Company"), a pharmaceutical company developing and commercializing products for the treatment of cancer, announces that all of the resolutions proposed at its Annual General and Special Meeting of Shareholders held on July 26, 2012 were duly passed.

In addition to the re-election of four directors, shareholders also have approved the Investment Financing Arrangement, the Creation of a Control Person and changes to the Company's stock option plan.

Approximately 25,600,000 shares were voted for the meeting representing 31% of the Company's outstanding shares.

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 tumour antigens that are presented in a variety of cancers.

Quest believes that combinatorial immunotherapy, which exploits the immune modulating effects of selected cytotoxic agents normally used in standard chemotherapy regimens along with specific immune stimulants will lead to important commercial applications of the Company's proprietary platform. Quest is currently conducting two carefully planned, risk mitigating confirmatory phase II clinical trials with oregovomab, not only to validate the superiority of the combinatorial approach, but also to design a definitive product registration study for the treatment of ovarian cancer. The Company's MUC1 antibody program has the potential to permit tumour specific immunization to a broad range of additional cancers, including colon, non small cell lung, breast and pancreas.  Quest is also conducting a phase I clinical trial for the treatment of prostate cancer, with its SonoLight compound, SL052.

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.

SOURCE: Quest PharmaTech Inc.

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.


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