QuestCap Completes Acquisition of Amino Therapeutics 04/13/2 TORONTO, April 13, 2020 (GLOBE NEWSWIRE) -- QuestCap Inc. (“QuestCap” or the “Company”) (CSE:QSC; FRA:34C1) announced today that further to its release of April 3, 2020, it has acquired 40 per cent of the issued and outstanding shares of life science company Amino Therapeutics (“Amino”). Amino is currently focused on developing biologic therapeutics for COVID-19. QuestCap cautions that this is still early stage research and development and is not making any express or implied claims that it has the ability to treat the SARS-CoV-2 virus at this time.
“The current global state of emergency presented by the COVID-19 pandemic requires immediate action,” said Stan Bharti, Co-Chairman of QuestCap. “QuestCap is pleased to support Amino’s efforts to rapidly develop the next generation of biologic therapeutics to potentially combat the COVID-19 crisis and to build a platform for future drug discovery.”
“From a scientific perspective, Amino has a novel approach to develop a potential COVID-19 treatment,” explained David Preiner, President and Chief Executive Officer of Amino. “The SARS-CoV-2 is the virus responsible for the COVID-19 disease and current global pandemic, and we’re optimistic that our approach may yield effective treatments for patients with COVID-19.
Amino’s research initiatives target two significant pain points in modern medicine: a lack of effective small molecule drug candidates and targeted drug delivery systems to transport biologics into the cytosol. Our research of peptide-based protease inhibitors is different than anything else we know of targeting COVID-19.”