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Quest PharmaTech to Receive $3,000,000 to Develop Oncology Products Based on its SonoLight Technology
Date:12/17/2007

based on its proprietary photodynamic and sonodynamic therapy platform. The Company's lead product, SL017, is a topical formulation that is currently undergoing a 90 patient clinical trial in Canada for hair removal applications. Quest has signed an exclusive multinational license agreement with Paramount Biosciences, a global pharmaceutical and healthcare investment firm, to develop and market SL017 for dermatology applications. In addition, Quest also has an agreement with KMH Co. Ltd, a Korean pharmaceutical company, to market SL017 in Asia for hair removal applications.

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."


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