ABOUT US
Greetings. I would like to take this opportunity to provide my first update to my fellow shareholders as Chairman of OncoQuest Pharmaceuticals, Inc. (“OQP” or the “Company”). The merger activities and the transfer of assets from OncoQuest Inc. (Canada) is progressing well and on a timely basis as originally planned in the merger agreement. I recently visited Korea for two weeks and had the opportunity to meet with several current and potential investors. I am hoping that I get to meet a substantial majority of our shareholders on my future visits.
While the Company is facing some short-term challenges on the audit front, I want to assure our investors that we have an experienced management team to help us navigate and overcome these obstacles. The acquired asset including the Phase 3 clinical trial program for oregovomab in Ovarian cancer is advancing as planned. This global Phase 3 clinical trial for patients with front-line Ovarian Cancer is now officially open in the USA and we expect to enroll the first patient in the coming weeks. Enrollment in other countries will follow in the coming months. The Phase 3 clinical trial will be conducted at approximately 140 centers in 17 countries, including 6 centers here in Korea, and is expected to enroll up to 600 patients in total. OQP had a shareholder meeting recently which was well attended and provided the opportunity for shareholders to meet OQP’s new Board of Directors who will guide the Company as it continues to execute on its business strategy to maximize shareholder value. In addition to the oregovomab program, OQP has a pipeline of other technologies that it is developing including a monoclonal antibody AR 20.5 and a platform technology of IgE antibodies.
The Company has recently set up a U.S. subsidiary, OncoQuest Pharma USA, Inc., to focus on the development of the Company’s immunotherapy technology, and our headquarters in Seoul will continue to run the automotive division.
The Company continues to make progress towards finalizing the ATA, with the Second Close expected in October 2020.
I look forward to a bright and prosperous future for all of us.
Sincerely,
August 26, 2020
OQP Pharmaceutical Co., Ltd. had marked its name to become a world-leading bio company for the development of new anti-cancer drugs as of 2020. Since its establishment in 1993, with customer satisfaction and customer-oriented service as our pursuit, we have focused on the development of the automobile industry, one of the founding businesses in Korea. As a result of continuous efforts in innovation to create new values for the company and our shareholders, we have obtained the research assets for anti-cancer treatment.
OQP possesses pipelines of immuno-cancer treatments for ovarian cancer, pancreatic cancer, and breast cancer, and has begun Phase III of the U.S.FDA clinical trials. Which has already demonstrated outstanding results in Phase II trials that gathered attention through globally renowned journals, and the stable release of the groundbreaking anti-cancer drug after the completion of Phase III clinical trials are receiving much anticipation.
By merging our existing Korea-based business and new biotechnology business, we will maximize the value of the company for our shareholders, executives and staff, and further, realize the humanistic value of protecting the nobility of life.
- OncoQuest Pharmaceuticals Inc. (“OQP”) (Previous, Dual Industrials Co., Ltd.)
- Madi Madiyalakan
- Chang Hyun Lee
- August, 1993
- October, 2005
- About 110
- 15,056,066,600 KRW (2020.6.30)
- 75,280,333
- 670-21, Sannae-ro, Sannae-myeon, Miryang-si, Gyeongsangnam-do, Republic of Korea (HQ)670-21, Sannae-ro, Sannae-myeon, Miryang-si, Gyeongsangnam-do, Republic of Korea (HQ)
- 4F Bonsol Bldg, Teheran-ro, Gangnam-gu, Seoul, Republic of Korea (Seoul Office)ldg, Teheran-ro, Gangnam-gu, Seoul, Republic of Korea (Seoul Office)
* CEO of Company
IP (Patents), US FDA clinical,
and related Contracts
New Directors elected
* Dr. Madi as Chairman
- May 2020 to present :
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- OncoQuest Inc sold its clinical and preclinical immunotherapy
- development assets to OncoQuest Pharmaceuticals Inc. (formerly Dual Industrial Co. Ltd.)
- Transition activities ongoing.
- Current status :
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- Formerly Dual Industrial Co. Ltd, but renamed “OncoQuest Pharmaceuticals Inc.” (“OQP”), May 2020
- OQP responsible for all costs of clinical and non-clinical development of immunotherapy assets and will oversee all product and clinical development functions.
- No changes to Sponsor for medical and clinical, IQVIA CRO and GOG Foundation teams