Quest Management, Inc. (OTC Pink: QSMG) is engaged as an acquisition & development company. Shares of the holding company are climbing 20%, through afternoon trading on Tuesday, April 11, 2017. Over the past month, Quest Management, Inc. has seen average daily volume of 3,088 shares. However, volume of 147,816 shares or dollar volume of $301,544, has already exchanged hands on Tuesday.
Shares of Quest Management, Inc. is rallying Tuesday after the company signed a letter of intent to acquire Stemvax, Inc., a immunotherapy biotechnology company. Stemvax, Inc. was founded in 2014 and develops treatments and therapies for brain tumors, specifically, Glioblastoma Multiforme (GBM). Here is the full press release detailing of the key cancer biotechnology acquisition:
Quest Management, Inc. Press Release:
MADONA, Latvia, April 11, 2017 (GLOBE NEWSWIRE) — Quest Management, Inc. (QSMG) announces the signing of a Letter of Intent (the “Agreement”) to acquire immunotherapy Biotech company Stemvax, Inc., from Dr. Dwain Morris-Irvin PhD. Upon Closing, Dr. Morris-Irvin will simultaneously become CEO of the newly formed Biotech division of Quest.
Los Angeles based Stemvax, Inc., founded in 2014 and doing business as StemVax Therapeutics is a Translational Biotechnology Company that develops novel therapies for brain tumor patients. Stemvax focuses its efforts on developing immunotherapeutic approaches to treating patients with Glioblastoma Multiforme (GBM), a devastating brain cancer. Stemvax simultaneously focuses research efforts on novel drug development to target Cancer Stem cells and other multi-resistant cancer cells.
Dr. Morris-Irvin received his PhD from UCLA School of Medicine, MPH, from UCLA School of Public Health, and trained at The Wallenberg Neuroscience Center at Lund University in Lund, Sweden. He was also a Professor, Faculty member at Cedars-Sinai Medical Center, Department of Neurosurgery.
His PhD is in Pharmacology and Developmental Neuroscience with an emphasis on neural stem cell fate and differentiation. His research focused on neural development and Notch Signaling in mammalian neural stem cells. He also worked as an NIH/NINDS Post-Doctoral Fellow in Dr. Anders Bjorklund laboratory in Lund, Sweden. There, his focus was on research projects that investigated the potential role of cell replacement therapy for patients with Parkinson’s disease. They developed several protocols for the efficient generation of dopaminergic neurons from forebrain and ventral midbrain stem and progenitor cells.
Additionally, Dr. Morris-Irvin worked as a Research Scientist, Assistant Professor, and Faculty member at Cedars-Sinai Medical Center, Department of Neurosurgery. He led research investigations in the role of adaptive immunity in Parkinson’s disease. He also developed two patents in the area of immunotherapy for brain tumor patients, specifically Glioblastoma Multiforme (GBM). His research team focused on molecular mechanisms that impart therapeutic resistance in cancer cells, including cancer stem cells. They utilized this data to develop novel immunotherapies for brain tumor patients.
Quest Management believes that the Stemvax acquisition, and integration of Dr. Morris-Irvin into the Quest family will give Quest an immediate presence in a Biotech field that is not only working, but tremendously appreciated by those whose life it impacts. Dr. Morris-Irvin and his team are a foundation for many opportunities Quest will have, that will provide Quest the potential to be a significant stalwart in global Biotechnology pursuits.
Safe Harbor Statement: This news release contains “forward-looking statements”, which are statements that are not purely historical and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.