Quest PharmaTech’s Subsidiary, OncoQuest, Signs Agreement with Shenzhen Hepalink Pharmaceutical Co., Ltd. to Fund Immunotherapy for Treatment of Cancer in China
EDMONTON, ALBERTA, March 22, 2016 – Quest PharmaTech Inc., a pharmaceutical company developing and commercializing products to improve the quality of life, announces that its subsidiary, OncoQuest Inc. has signed an agreement with Shenzhen Hepalink Pharmaceutical Co., Ltd., a China-based global pharmaceutical company to fund the research and development of immunotherapies for treatment of cancer in China. The agreement results in the creation of a new company in China called OncoVent Co., Ltd., valued at U.S. $9.26 million, to focus on the research and development of cancer immunotherapy products for the Chinese market.
The creation of OncoVent will provide additional resources for product development that OncoQuest can access to accelerate its worldwide product registration strategy. OncoVent will focus on the development, manufacturing and commercialization of Cancer Immunotherapy Products within China with pancreatic cancer as its first target.