Quest PharmaTech Announces Change of Chief Executive Officer

EDMONTON, Alberta, Sept. 25, 2026 (GLOBE NEWSWIRE) -- Quest PharmaTech Inc. (TSX-V: QPT) (“Quest” or the “Company”), a Canadian based pharmaceutical company developing products to improve the quality of life through investee companies and proprietary technologies, today announces the change of its Chief Executive Officer (CEO). Effective November 23, 2026, Dr. Madi Madiyalakan will be retiring from his position as Quest’s CEO. Dr. Madiyalakan has been the CEO of Quest since August 2006. Mr. Jeffrey Shon, a director of Quest, will be taking over the role of CEO. Mr. Shon has considerable experience in the areas of legal, regulatory and corporate affairs, including venture capital funding focused on emerging technologies.

J. Mark Lievonen, Chairman of Quest’s Board, stated, “We thank Dr. Madiyalakan for his tireless efforts, hard work and unwavering loyalty to Quest over the past 20 years, and we wish him all the best in his future endeavors. We welcome Mr. Shon, as CEO of Quest following Dr. Madiyalakan’s retirement, and wish him success in his efforts to run the Company and create shareholder value.”

Quest also announces that it will hold its annual and general shareholder meeting (AGM) on Monday, November 23, 2026, at 3:00 pm in the Company’s corporate offices in Edmonton. Dr. Madiyalakan will not be standing for re-election as a director at the AGM but will continue to consult to Quest as required to ensure continuity of its business operations.

About Quest PharmaTech Inc.

Quest PharmaTech Inc is a publicly traded, Canadian based biopharmaceutical company (QPT: TSX-V) developing products to improve the quality of life. The Company has a 26.6% ownership interest in a Korean company called OQPBIOM Inc., a private company that owns the immunotherapy assets and is developing immunotherapeutic products for the treatment of cancer. Quest also has a 23% ownership interest in OncoVent, a Chinese joint venture developing antibody-based immunotherapeutic products for cancer for the Greater China territory. Quest is also developing proprietary MAb AR 9.6 targeting truncated MUC16 as theranostic agents for cancer which is currently in late preclinical stage. To learn more, visit www.questpharmatech.com. 

Forward Looking Statements  

This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements contained herein that are not historical in nature contain forward-looking information. Forward-looking information can be identified by words or phrases such as “may”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe” or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen. The forward-looking information contained herein is made as of the date of this press release and is based on assumptions management believed to be reasonable at the time such statements were made. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By its nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release. Such factors include, without limitation, the risk factors that can be found in the Company’s securities law filings which have been filed under the Company’s SEDAR+ profile at www.sedarplus.ca. Readers are cautioned not to put undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

For further information:
Dr. Madi R. Madiyalakan, CEO, Quest PharmaTech Inc.
Tel: (780) 448-1400,
E-mail: madi@questpharmatech.com

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.