TSX Venture: QPT
EDMONTON, Oct. 22, 2014 /PRNewswire/ - 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.
SOURCE Quest PharmaTech Inc.
