Quest PharmaTech Inc.
("Quest" or the "Company") is pleased to announce that it has received
clearance from the Therapeutic Products Directorate of Health Canada to
initiate a Fifty Patient clinical trial to investigate the appropriate
light dose to be used with the topical gel for cosmetic hair removal
applications of its lead photodynamic therapy (PDT) compound SL017. The
Principal Investigator for the trial is Dr. Robert Bissonnette, M.D.,
President of Innovaderm Research in Montreal. Innovaderm has already
received necessary ethics committee approval to recruit patients for this
trial. The trial is anticipated to be completed in six months.
Quest has already completed a Phase I study for the assessment of
histological localization of SL017 Topical Gel in hair follicles. The Phase
I study results demonstrated that the product is well tolerated with
preferential localization of the drug in hair follicles. The current trial
is designed to study the combination of SL017 Topical Gel with Intense
Pulse Light for hair removal.
Permanent removal of unwanted hair remains a considerable therapeutic
challenge. Over the past few years, new technologies have emerged for hair
removal. One of them is photo-epilation. This technology is based on laser
and other light sources emitting in red and/or near-infrared wavelength
regions. Although these techniques have been shown to induce permanent hair
reduction, a series of 4-8 sessions, and sometimes more, are required. In
addition, this will only achieve a 75%-85% permanent hair reduction and the
use of another technique, such as electrolysis is often necessary after the
laser or Intense Pulse Light treatment. Another main limitation of light
based hair removal is the inability to reduce the number of blond, red or
white hairs. The use of SL017 that localizes in the hair follicle has the
potential to overcome these limitations and enhance the effectiveness of
photo-epilation.
Quest's strategy is to market SL017 to Asian and Canadian consumers as
an "aid for hair removal with an approved light based depilatory system".
The Company is in the process of registering SL017 as a cosmetic ingredient
with International Nomenclature of Cosmetic Ingredient. The Company is also
developing an `over the counter' light delivery system that will expand the
market potential of SL017. In September 2006, Quest reached an agreement
with KMH Co., Ltd. of Korea to distribute SL017 in Asia for cosmetic hair
removal. The Company is seeking strategic partners for SL017 for North
America and Europe.
About Quest PharmaTech Inc.
The Corporation is a publicly traded (TSX Venture Exchange: QPT),
Alberta-based drug development company committed to the development and
commercialization of new pharmaceutical products. It is developing a series
of products for the treatment of cancer and dermatological conditions based
on its unique photodynamic and sonodynamic therapy platform.
Except for historical information, this press release may contain
forward-looking statements, which reflect the Company's current expectation
regarding future events. These forward-looking statements involve risk and
uncertainties, which may cause but are not limited to, changing market
conditions, the successful and timely completion of clinical studies, the
establishment of corporate alliances, the impact of competitive products
and pricing, new product development, uncertainties related to the
regulatory approval process and other risks detailed from time to time in
the Company's ongoing quarterly and annual reporting.
"TSX Venture Exchange has neither approved nor disapproved of the information contained herein."
Quest PharmaTech Inc.
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