BRIEF-Quest Pharmatech says unit signs agreement with Shenzhen Hepalink Pharmaceutical to fund immunotherapy for treatment of cancer in China

Tue Mar 22, 2016 9:38am EDT
 
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March 22 (Reuters) - Quest Pharmatech Inc :

* Says subsidiary, Oncoquest Inc. has signed an agreement with Shenzhen Hepalink Pharmaceutical Co., Ltd

* Oncoquest will license Greater China rights to immunotherapy technologies and provide 1 million usd for 46% of shares of oncovent

* Agreement results in creation of a new company in china called Oncovent Co., Ltd valued at U.S. $9.26 million

* Hepalink will contribute 5 million USD for 54% of shares of Oncovent

* As part of agreement, Oncoquest will transfer portion of shares in Oncovent to co such that co will own 11% of shares of Oncovent Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)