EDMONTON, Jan. 3, 2018 /CNW/ - Madenco Biosciences Inc.
("Madenco"), a subsidiary of Quest PharmaTech Inc. (TSX-V: QPT)
("Quest"), focused on bringing clinically validated products to the
consumer and dermatology market by utilizing proprietary
transdermal delivery technologies, announces the signing of an
exclusive worldwide license agreement with Stanford University to develop and commercialize
patented EGF wound healing technology in return for undisclosed
upfront and milestone payments.
The technology was invented by Dr. Jennifer Cochran, associate professor of
bioengineering at Stanford University,
and is jointly owned by Stanford
University and Massachusetts Institute
of Technology. This new class of engineered EGF molecules
have about 30 times more receptor-binding affinity than natural EGF
and are protected by two U.S. patents. The technology can also
be combined with Quest's SP Technology to further enhance its
effectiveness. Its application includes wound healing as well as
for use in cosmetics.
"We are excited for this opportunity to develop the wound
healing technology" said Dr. Madi Madiyalakan, CEO of
Madenco/Quest. "Natural EGF molecules used for wound healing only
remain in the wound site for a few minutes before they are
dispersed. The new engineered EGF molecules with higher receptor
binding affinity can prolong the residence time remarkably and
enhance the biological effect", added Dr. Madiyalakan.
Madenco is currently marketing Bellus Skin™ Serum, a clinically
validated anti-aging skin serum proven to reduce the appearance of
wrinkles and signs of aging using SP-Technology™ to deliver
fusion proteins targeting growth factors into the skin. Bellus
Skin™ Serum is also available for purchase online at
www.bellusskin.com.
On a corporate matter, Quest announces the granting of 500,000
stock options to Directors and 800,000 stock options to Officers,
all at an exercise price of $0.15 per
common share, subject to TSX Venture Exchange approval.
About Madenco Biosciences Inc.
Madenco Biosciences is
a company specializing in developing products utilizing proprietary
transdermal delivery technologies with a focus on consumer and
dermatology markets. Madenco's first commercial cosmetic product is
Bellus Skin™ Serum, a clinically-proven anti-aging serum for people
over the age of 25, utilizing SP Technology™ to deliver
specific fusion proteins targeting growth factors to the skin,
helping to reduce the visible signs of aging.
About Quest PharmaTech Inc. (TSX-V: QPT)
Quest
PharmaTech Inc ("Quest" or the "Company") is a publicly traded,
Canadian based pharmaceutical company developing products to
improve the quality of life. The Company through its subsidiary,
OncoQuest and its Chinese joint venture, OncoVent, is developing
antibody based immunotherapeutic products for cancer. Quest has an
ownership interest in Bioceltran which is focused on SP Technology™
for transdermal delivery of drugs and photosensitizers for
pharmaceutical and cosmetic purposes. Quest through its subsidiary,
Madenco BioSciences and its investment in Natural Rf also markets
consumer health products worldwide, including Bellus Skin™ serum, a
premium anti-wrinkle skin care product licensed from Korea and
Allergy Rf, a natural product for seasonal and environmental
allergies, respectively. Quest is also developing an antibody
licensed from University of Nebraska,
Mab AR 9.6 against truncated O-glycan on MUC16, for targeted cancer
therapy applications.
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.
Internet: www.questpharmatech.com, www.madencobio.com,
www.bellusskin.com
SOURCE Madenco Biosciences Inc.