EDMONTON, AB, Jan. 30,
2024 /CNW/ - Quest PharmaTech Inc. (TSXV: QPT)
("Quest" or the "Company") a Canadian based pharmaceutical company
developing products to improve the quality of life through investee
companies and proprietary technologies, announced that it has
received a cash dividend payment from OncoQuest Inc. ("OncoQuest",
one of Quest's investee companies) of approximately Cdn
$685,000. Quest has a 42.5% ownership
interest in OncoQuest. The dividend income will be used by Quest
for general corporate purposes.
About Quest PharmaTech Inc.
Quest PharmaTech Inc is a publicly traded, Canadian based
biopharmaceutical company (QPT: TSX-V) developing products to
improve the quality of life. The Company has a 42.5% ownership
interest in OncoQuest Inc. which sold its immunotherapy technology
assets to Korea-based Dual Industrial Co, Ltd. in April 2020. Quest also has a 23% ownership
interest in OncoVent, a Chinese joint venture developing
antibody-based immunotherapeutic products for cancer for the
Greater China territory. Quest is
also developing proprietary MAb AR 9.6 targeting truncated MUC16 as
theranostic agents for cancer. AR 9.6 was licensed from
University of Nebraska and currently is
in late preclinical stage. To learn more, visit
www.questpharmatech.com.
Forward Looking Statements
This news release contains "forward-looking information" within
the meaning of applicable securities laws including, without
limitation, statements related to the Company's intended use of the
proceeds of the dividend from OncoQuest Inc., is made as of the
date of this press release and is based on assumptions management
believed to be reasonable at the time such statements were made.
There is no assurance that such expectations will prove to be
correct. A variety of factors, including known and unknown risks,
many of which are beyond our control, could cause actual results to
differ materially from the forward-looking information in this
press release. Such factors include the risk factors that can be
found in the Company's securities law filings which have been filed
under the Company's SEDAR+ profile at www.sedarplus.ca. Readers are
cautioned not to put undue reliance on forward-looking information.
The Company undertakes no obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable law. Forward-looking statements contained in this news
release are expressly qualified by this cautionary statement.
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.
