Quest PharmaTech Appoints Mr. Mark Lievonen, former President of Sanofi Pasteur Limited, to the Board of Directors

TSX Venture: QPT

EDMONTON, July 19, 2017 /CNW/ - Quest PharmaTech Inc. (TSX-V: QPT) ("Quest" or the "Company"), a pharmaceutical company developing and commercializing products to improve the quality of life, today announced the appointment of Mr. Mark Lievonen, to the Company's Board of Directors.  Mr. Lievonen has over 30 years' experience in the pharmaceutical industry, more recently as the President of Sanofi Pasteur Limited, the Canadian vaccine division of Sanofi, a global pharmaceutical company.

Mr. Lievonen has received many awards and honours, including his appointment to the Order of Canada in 2015.  He was named a Chevalier de l'Ordre National de Mérite by the government of France in 2007, and was inducted into the Canadian Healthcare Marketing Hall of Fame in 2013.

Mr. Lievonen holds a BBA in accounting and an MBA in finance and marketing from the Schulich School of Business, York University. He is a Chartered Professional Accountant and received his designation while working with PricewaterhouseCoopers prior to joining Sanofi Pasteur.  He was elected as a Fellow of the Institute of Chartered Accountants of Ontario in 2007.

"We are very pleased that Mr. Lievonen has agreed to join our Board," said Dr. Madi R. Madiyalakan, Chief Executive Officer for Quest. "Mr. Lievonen brings a wealth of biopharmaceutical experience to the Board."

The Company also announces the resignation of Mr. Ian McConnan, FCA, from the Company's Board of Directors.  Mr. McConnan has been a Company Board of Director for the past 14 years and served as Audit Committee Chair.

"I would like to thank Mr. McConnan for his support and tireless work on the Board," said Dr. Madi R. Madiyalakan.  "Mr. McConnan has provided valuable assistance to the Company over the many years he served as a Board member".  

The Company will grant 150,000 Company stock options to Mr. Lievonen, exercisable at $0.15 per common share, as part of his honorarium.

About Quest PharmaTech Inc.
Quest PharmaTech is a publicly traded; Canadian based pharmaceutical company developing products to improve the quality of life. The Company through its subsidiary, OncoQuest and its Chinese joint venture, OncoVent, is developing antibody based immunotherapeutic products for cancer. In addition, the Company owns the Photodynamic Therapy technology for oncology and dermatology applications, licensed to BioCeltran Co., Ltd., a Korea based company (Bioceltran).  Quest has an ownership interest in Bioceltran, which is focused on SP Technology™ for transdermal delivery of drugs and photosensitizers for pharmaceutical and cosmetic purposes. Quest through another subsidiary, Madenco Biosciences, also markets consumer health products worldwide, including Bellus Skin™ serum, a premium anti-wrinkle skin care product licensed from Korea.  Quest is also developing an antibody licensed from University of Nebraska, Mab AR 9.6 against truncated O-glycan on MUC16, for targeted cancer therapy applications.

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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