Quest PharmaTech Provides Corporate Update

TSX Venture: QPT

EDMONTON, Jan. 7 /CNW/ - Quest PharmaTech Inc. (TSX-V: QPT) ("Quest" or the "Company"), a pharmaceutical company developing and commercializing products for the treatment of cancer, today announces that its Annual General Meeting of Shareholders is planned to occur in April, 2011. The Company also announces the granting of 1,250,000 stock options to Officers and Directors of the Company, all at an exercise price of $0.10 per common share subject to TSX Venture Exchange approval. Finally, the Company wishes to announce that it has taken necessary steps to prepare its financial statements under International Financial Reporting Standards (IFRS) effective for the 2012 financial year.

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.

SOURCE Quest PharmaTech Inc.

For further information:

Dr. Madi R. Madiyalakan, Chief Executive Officer, Quest PharmaTech Inc., Tel: (780) 448-1400 Ext. 204, Email:, Internet:


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