Quest Management Inc (OTCMKTS:QSMG) has a plan 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. They also intend to add a CFO to bolster the management team. Shares have been on the rise, and a look at the last few weeks shows investors like the moves the company is making.
Los Angeles based Stemvax, Inc., founded in 2014 and doing business as StemVax Therapeutics is a Translational Biotechnology Company for brain tumor patients. Stemvax focuses its efforts on developing immunotherapeutic approaches to treating patients with Glioblastoma Multiforme (GBM), a brain cancer. Stemvax simultaneously focuses research efforts on 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.
Quest Management Inc (OTCMKTS:QSMG) 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.
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$QSMG 10-Day Chart Below:The company also announced that as part of its pending acquisition by TN3 LLC and new business initiatives, L. Michael Yukich will be joining the management team as the Chief Financial Officer for consolidated holding company operations.
Mr. Yukich has over thirty years of financial management experience in privately held companies, private companies which he has assisted in taking public, a public division that has gone private, and public companies including serving as the CFO of an international $1.5 billion division of a Fortune 500 company. Mr. Yukich has had financial accountability for international operations in Europe, South America and the Asia Pacific Rim, in addition to domestically located organizations ranging in size from $25 million to $1.5 billion in revenues. He has been CFO for companies in both highly specialized areas, as well as a diversified holding company with over $150 million in revenue.
In the 1990s Mr. Yukich served as Chief Financial Officer and Controller for Eaton’s Truck Component Operations, which was a $1.5 billion enterprise with 8500 employees in North and South America. Mr. Yukich was responsible for all the financial and information technology functions. He led the due diligence and integration team for the acquisition of a $200 million Brazilian transmission supplier that was totally integrated within one year of acquisition.
After Eaton, Mr. Yukich served as Senior Vice President and Chief Financial Officer for Guide Corporation, a $600 million Tier one automotive supplier for external lighting systems. At Guide, Mr. Yukich was a key management team member, that took a former General Motors division and created a stand- alone company. He oversaw a $20 million investment for IT conversion and improved quality programs. In cooperation with the equity owners, Mr. Yukich secured another $22 million for a new manufacturing facility in Mexico and an engineering and technical center for R & D, as well as ongoing engineering and other corporate functions.
Mr. Yukich is uniquely qualified to guide QSMG in its business objectives, and states, “My goal is to ensure Mr. Martin and his team are successful in their efforts to grow and manage Quest, and it is my objective to add as much value as possible to the team, to manage the processes that are necessary to growing and uplisting the company to AMEX, NASDAQ, or NYSE – and doing our best to create stable and sustainable value for the shareholders. I couldn’t be more excited.”
Shares in Quest Management Inc. (OTCMKTS:QSMG) have been moving around this news with some decent volume and price appreciation. This is worth watching when management takes steps to strengthen from the top down. For more news on $QSMG and other fast-moving penny stocks, please subscribe to OracleDispatch.com below.