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Quest PharmaTech Announces Development of Second Generation Photodynamic Therapy Products for the Treatment of Cancer based on Nanotechnology

November 29, 2011

EDMONTON, Nov. 29, 2011 /PRNewswire/ – Quest PharmaTech Inc. (TSX-V: QPT)
(“Quest” or the “Company”), a biotechnology company developing and
commercializing products for the treatment of cancer, today announced
the acceptance for publication of a research paper entitled “Antitumor
Efficacy of Photodynamic Therapy Using Novel Nanoformulations of
Hypocrellin Photosensitizer SL052″, in the Journal of Photochemistry
and Photobiology. The paper highlighted the results from a research
study conducted by scientists from the University of Saskatchewan in
Saskatoon and the BC Cancer Agency in Vancouver, comparing the
anti-tumor effect of Quest’s photosensitizer, SL052, in a novel
nano-formulution with other previously developed formulations for
photodynamic therapy. The results demonstrated the superior antitumor
effect of the new nanoparticle formulation over another
nano-formulation which was previously developed by the Company in
collaboration with IntelligentNano, an Edmonton based private company.
The results from that study were previously published in the journal of
Nanomedicine titled “Water-Soluble and Biocompatible
Sono/Photosensitizer Nanoparticles for Enhanced Cancer Therapy”.

The Company has filed patent applications for both of these
formulations; and has initiated a preclinical program to explore their
utility for intravenous delivery of Quest’s proprietary SL052
photosensitizer for the treatment of gastrointestinal cancer. This
second generation photodynamic therapy product will complement the
Company’s ongoing prostate cancer treatment program that utilizes SL052
with a novel intra-arterial drug delivery system.

In another study completed by University of Alberta scientists, the
mechanism of action of the Company’s novel hypocrellin based
photo/sono-sensitizer was examined and published in a paper titled
“Sonodynamic and Photodynamic Mechanisms of Action of the Novel
Hypocrellin Sonosensitizer; SL017: Mitochondrial Cell Death is
Attenuated by 11, 12-Epoxyeicosatrienoic Acid” in the Journal of
Investigational New Drugs.

“These new studies conducted by external researchers and published in
peer reviewed scientific journals show that this new nanoparticle
formulation of SL052 enhances the delivery of our photosensitizer to
the target area and can be utilized for various indications thereby
expanding the potential application of our proprietary drug and
formulations to treat a variety of cancers”, said Thomas Woo, Vice
President of Product Development at Quest.

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 that 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 or photodynamic
therapy, it can potentially further complement and enhance treatment
outcomes compared to antibody treatment alone.

The Company’s lead product candidate, Oregovomab, an immunotherapeutic
product for the treatment of ovarian cancer is currently undergoing a
multi-center Phase IIb clinical trial in Italy. This is the first of
three carefully planned proof-of-concept clinical trials to establish
the superiority of combinatorial immunotherapy either with front-line
chemotherapy consisting of carboplatin/paclitaxel in ovarian cancer,
gemcitabine in pancreatic cancer, or with the addition of an
immunoadjuvant. The Company hopes that successful results from these
studies will lead to the design of a definitive product registration
study.

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.


Source: PR Newswire