/CNW/ - OncoQuest Inc. ("OncoQuest"), a privately held,
cancer immunotherapy company, today announced the appointment of
Hany Awadalla, as its Senior Vice
President and Chief Financial Officer. Mr. Awadalla has spent
almost 30 years in healthcare investment banking at Merrill Lynch,
UBS, and serving as Head of Healthcare M&A at Robertson
Stephens and Wells Fargo and Head of Healthcare Investment Banking
at Unterberg Towbin. Most recently and for the past 6 years, he
served as Managing Director at National Securities. He has advised
on over $15 billion of financing and
M&A transactions in the healthcare sector. He received his MBA
in Finance and MA in International Studies from the Wharton School
and the University of Pennsylvania,
respectively and his BA from Columbia
University.
EDMONTON, June 27, 2017 "I have worked with
Hany over the past year and I am delighted that he has decided to
join our team. I believe that with his insights on the biotech
industry and corporate finance, he will make a significant
contribution to OncoQuest as we continue to build the organization
around our portfolio of immunotherapeutic antibodies" said Dr.
Madi Madiyalakan, CEO of
OncoQuest.
"I am very excited to be joining the OncoQuest leadership
team at this important inflection in the Company's development.
This is a very exciting time for OncoQuest. Oregovomab, the
Company's lead compound in Phase 2, is showing great promise in
frontline ovarian cancer where the standard of care has not changed
for decades. The opportunity to help grow a company that has the
possibility of altering the way in which cancer is treated is very
compelling," commented Mr. Awadalla.
About OncoQuest
OncoQuest is a
subsidiary of Quest PharmaTech Inc. (TSXV-QPT) ("Quest"), and is a
privately held, Canadian-based pharmaceutical company focused on
the development and commercialization of immunotherapies for
cancer. OncoQuest's technology platform includes a panel of tumor
antigen specific monoclonal immunoglobulins including CA125, MUC1,
PSA and Her2/neu; and the application of combinatorial
immunotherapy to enhance tumor specific immunity and clinical
outcome. OncoQuest's lead product is oregovomab for the treatment
of ovarian cancer that is currently undergoing multiple Phase 2
clinical trials. OncoQuest's MUC1 program has already completed a
Phase 1 clinical trial in breast cancer patients, and its
development is being led by OncoVent Co. Ltd., OncoQuest's joint
venture partner that has licensed the rights of the immunotherapy
technologies in the territory of Greater
China. OncoQuest's next-generation products are based on
immunoglobulin E licensed from UCLA,
Stanford University and Advanced Immune
Therapeutics, Inc. These antigen-specific monoclonal IgE antibodies
are currently in preclinical development.
Forward Looking Statements
This press release includes forward-looking
statements. In some cases, forward-looking statements can be
identified by terminology such as "may," "should," "potential,"
"continue," "expects," "anticipates," "intends," "plans,"
"believes," "estimates," and similar expressions. These
statements are based upon current beliefs, expectations and
assumptions and include statements regarding the contribution
expected of Mr. Awadalla. These
statements are based on management's expectations and assumptions
as of the date of this press release and are subject to a number of
risks and uncertainties, many of which are difficult to predict
that could cause actual results to differ materially from current
expectations and assumptions from those set forth or implied by any
forward-looking statements, including the ability to successfully
integrate Mr. Awadalla into OncoQuest's management team, the
ability of OncoQuest's product candidates to
demonstrate safety and efficacy, as well as results that are
consistent with prior results, the ability to enroll patients and
complete the clinical trials on time and achieve desired results
and benefits, the company's ability to obtain regulatory approvals
for commercialization of product candidates or to comply with
ongoing regulatory requirements, regulatory limitations relating to
the company's ability to promote or commercialize its product
candidates for specific indications, acceptance of its product
candidates in the marketplace and the successful development,
marketing or sale of products, the company's ability to maintain
its license agreements, the continued maintenance and growth of its
patent estate, its ability to establish and maintain
collaborations, its ability to obtain or maintain the capital
or grants necessary to fund its research and development
activities, and its ability to retain its key scientists or
management personnel. The information in this release is
provided only as of the date of this release and the company
undertakes no obligation to update any forward-looking statements
contained in this release based on new information, future events,
or otherwise, except as required by law.
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 OncoQuest Inc.