Dr. Madi Madiyalakan reports

QUEST PHARMATECH ANNOUNCES OPPOSITION TO OQPBIOM'S ACQUISITION OF ADBIOTECH

Quest Pharmatech Inc. was not informed or consulted, opposes, and will not support the recently announced acquisition by privately held South Korea-based OQPBIOM Inc. (OQM) of a controlling interest in AdBioTech Co. Ltd., a public company listed on KOSDAQ in South Korea. OQM has announced that AdBioTech is the corporate vehicle through which it wishes to pursue the funding and advancement of its immunotherapy assets.

As announced by Quest on June 2, 2025, as a result of the conversion of bonds, Quest has acquired a 26.25-per-cent share ownership interest in OQM and become its largest shareholder. OQM was established in April, 2024, to conduct clinical trials for oregovomab, a novel ovarian cancer drug candidate, which was developed by Quest investee company, OncoQuest Inc., and sold in 2020, which ultimately resulted in Quest holding the bonds in OQM that were recently converted.

Dr. Madi Madiyalakan, chief executive officer of Quest, stated, "As the largest shareholder of OQM, we were never informed or consulted about OQM's acquisition of a controlling interest in AdBioTech and OQM's intention to use this vehicle to advance oregovomab." He added that Quest strongly opposes this acquisition and strategy, deeming it inappropriate for ensuring stable funding for oregovomab's clinical trials and not in the best interest of OQM or its shareholders. Quest is consulting with its advisers and evaluating its legal options. Any information or reports disseminated that suggest that Quest is supportive of OQM management in the implementation of this path and strategy for OQM is inaccurate.

About Quest Pharmatech Inc.

Quest Pharmatech is a publicly traded, Canadian-based biopharmaceutical company (QPT: TSX-V) developing products to improve the quality of life. The company has a 42.5-per-cent ownership interest in OncoQuest Inc. which sold its immunotherapy technology assets to Korea-based Dual Industrial Co. Ltd. in April, 2020. Quest also has a 23-per-cent 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. AR 9.6 was licensed from University of Nebraska and currently is in late preclinical stage.

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