TSX Venture: QPT
EDMONTON, Oct. 22, 2014 /CNW/ - Quest PharmaTech Inc. (TSX-V: QPT) ("Quest" or the "Company"), a pharmaceutical company developing and commercializing products for the treatment of cancer, reports today that it has signed an exclusive supply and distribution agreement with Smart Cell Tec for the world-wide marketing and distribution rights, excluding South Korea, for the science based, premium anti-wrinkle skin care product, Bellus Skin™.
Bellus Skin™ has several unique qualities that make it an effective high end anti-wrinkle serum. The patented SP Technology in Bellus Skin™ enables superior penetration of the key ingredients to the lower layers of the skin surface where the effect is profound and long lasting. The SP Technology platform, developed by the Korean company, Bioceltran Co., Ltd., also has applications for other cosmetic and pharmaceutical products under development. Quest has exclusive rights to SP Technology based products. In addition, Quest recently acquired equity in Bioceltran, thereby enabling plans to create a revenue stream for Quest in the near term.
"I am pleased that we are able to add this high quality product to our existing technologies and help build shareholder value through sales by Quest under this marketing and distribution agreement" said Dr. Madi Madiyalakan, CEO of Quest. "Bellus Skin™ is a science based premium anti-wrinkle skin care product already being sold in Korea. Pre-market testing feedback for the product has been highly favorable. In addition, SP Technology when used in combination with Quest's SonoLight technology has some unique advantages both for dermatology and oncology applications."
To assist Quest with the Canadian and U.S. marketing strategy for Bellus Skin™, Quest has entered into a marketing and distribution relationship with Afinity Life Sciences Inc., headed by Dr. Jacqueline Shan, founder and former CEO and Chief Science Officer of Afexa Life Sciences Inc. who successfully developed and commercialized the #1 selling product COLDFX ®.
Quest has also recently signed an exclusive distribution agreement with Global Persada International, a Singapore based company managed by Dr. Rikrik Ilya, CEO of Innokeys Pte Ltd., for marketing of Bellus Skin in ASEAN countries that include Singapore, Malaysia, Indonesia etc.; and is also in negotiations with parties to market the product in Europe.
The Company anticipates a near term revenue stream from a number of product pipelines based on this superior product. The revenue will support the Company's efforts in the development of its core Antibody Immunotherapy Platform. The Canadian market potential for prestige skin care products is estimated to be $350 million annually.
Smart Cell Tec is a Korea based company that manufactures Bellus Skin™ using Bioceltran's SP Technology. Bellus Skin is currently sold in Korea and Smart Cell Tec is well positioned to provide the support Quest will require to market and distribute Bellus Skin™ on a global basis.
About Afinity Life Sciences Inc.
Afinity Life Sciences Inc. researches, develops and brings to market natural-based therapeutics that helps support a healthy and active lifestyle. The company's unique approach is to use proprietary science to create a premium quality line of natural health products that consumers can trust. The Afinity brand has a pipeline of products that promises a growing range of innovative products in a number of health and cosmetic areas to meet the needs of active aging consumers. www.afinity.ca
About Quest PharmaTech Inc.
Quest PharmaTech is a publicly traded, Canadian based clinical stage company developing a portfolio of product candidates for the treatment of cancer by combining immunotherapeutic antibodies with chemotherapy, immune-adjuvants and photodynamic therapy. Quest has a body of clinical experience and a new appreciation of the obstacles and potential of combinatorial immunotherapeutic approaches to cancer by using either immunoglobulin G or E as immune modulators to enhance tumor specific immunity and clinical outcome.
The most advanced of its product candidates is Oregovomab, an anti-CA125 monoclonal antibody, in combination with front-line chemotherapy for the treatment of advanced ovarian cancer which is currently undergoing a Phase IIb clinical trial in 13 centers in Italy and the U.S. The Company's MUC1 program that has already undergone a Phase I clinical trial has the potential to permit tumor specific immunization in more than 70% of all cancers that kill.
COLDFX ® is a registered trade mark of the Valeant family of companies.
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.
Image with caption: "Quest PharmaTech Inc. (CNW Group/Quest PharmaTech Inc.)". Image available at: http://photos.newswire.ca/images/download/20141022_C1430_PHOTO_EN_6986.jpg
Image with caption: "Afinity Life Sciences Inc. (CNW Group/Quest PharmaTech Inc.)". Image available at: http://photos.newswire.ca/images/download/20141022_C1430_PHOTO_EN_6987.jpg
Image with caption: "Bellus Skin™ (CNW Group/Quest PharmaTech Inc.)". Image available at: http://photos.newswire.ca/images/download/20141022_C1430_PHOTO_EN_6988.jpg
SOURCE: Quest PharmaTech Inc.
For further information: Dr. Madi R. Madiyalakan, Chief Executive Officer, Quest PharmaTech Inc., Tel: (780) 448-1400 Ext. 204, Email: [email protected], Internet: www.questpharmatech.com