- CEO
- Paul Ramsay
- Sector
- Healthcare
- Industry
- Drug Manufacturers - Specialty & Generic
- Address
- 4120 Ridgeway Drive Mississauga ON Canada L5L 5S9
- IPO Date
- Sep 17, 2015
- Business
- CanaQuest Medical Corp. (CANQF) is a Canada-based clinical-stage life sciences company focused on drug discovery and development of next-generation targeted therapeutics within the endocannabinoid system and specific brain receptors for treating neurological conditions including epilepsy, anxiety, depression, post-traumatic stress disorder and addiction. Founded in 2008 and headquartered at 4120 Ridgeway Drive, Mississauga, Ontario, the company, formerly known as Algae Dynamics Corp., develops proprietary cannabidiol-based formulations such as lead drug candidate CQ-001 for refractory epilepsy, which demonstrated 35% improved efficacy in Ontario Brain Institute clinical data and targets FDA Orphan Drug Status, CQ-002, and nutraceutical Mentanine; it also pursues research in algae oils, hemp and cannabis-derived pharmaceuticals with applications in neurostability, cognitive support, mental health and veterinary medicine through wholly owned subsidiary ADC BioMedical Corp. The company operates primarily in Canada with plans for U.S. FDA and Health Canada approvals, serving pharmaceutical, nutraceutical and potential veterinary markets. Recent developments include collaboration with NRC Canada Human Health Therapeutics Research Centre for drug dosing optimization and brain interaction studies, awards as Medical Cannabinoid Development Company of the Year 2024 and Endocannabinoid Therapeutics Development Company of the Year 2024 by Global Health & Pharma, executive appointments of former GW Pharma leaders Dr. Jordyn Stuart as Acting Chief Scientific Officer and Dr. Hunter Land along with Dr. Paul Dick as Chairman of Advisory Board in 2024, and ongoing seed funding efforts targeting US$1M with expressions of interest up to US$10M Series A from venture capital firms contingent on lead investors to advance clinical trials and IP expansion.