MONMOUTH JUNCTION, N.J, Sept. 13, 2005 (PRIMEZONE) -- The Cleveland Clinic Taussig Cancer Center has initiated patient enrollment for a Phase I clinical trial of sodium stibogluconate (SSG), an oncology compound to be acquired by VioQuest Pharmaceuticals (OTCBB:VQPH) pending completion of its proposed acquisition of Greenwich Therapeutics.
The trial is designed to examine the effectiveness, safety and tolerability of SSG for the treatment of solid tumors, lymphoma and myeloma in defined doses. The study is also designed to determine the maximum tolerated dose of SSG when given in combination with interferon alpha-2b (IFN-2b), a commercially available drug currently used to treat several cancers. It is believed the combination treatment will maximize the anti-tumor properties of both SSG and IFN-2b. Patient dosing has begun in several of the twenty-four patients that will receive treatment over a one-year period in the trial.
SSG has been used for decades to treat leishmaniasis, an infectious disease common in many developing countries, but until recently its mechanism of action was not fully understood. Taolin Yi, Ph.D., a cancer biologist at The Cleveland Clinic Lerner Research Institute, discovered SSG targets a class of enzymes in cells that may play a significant role in combating certain types of cancer. Preclinical studies conducted in animals found the compound effective in significantly reducing tumor size, while maintaining weight stability, suggesting SSG's potential as a novel targeted therapeutic for cancer patients.
"We are excited by the rapid initiation of a phase I clinical trial for SSG," commented Daniel Greenleaf, President & CEO of VioQuest Pharmaceuticals. "Based on promising preclinical data, we are very hopeful SSG will prove to be an effective, targeted oncology therapeutic, and we anticipate results from this trial will further validate its clinical potential."
On July 8, 2005, VioQuest entered into a definitive merger agreement to acquire Greenwich Therapeutics, which owns exclusive license rights to two anti-cancer agents -- SSG and triciribine (TCN-P). Combined, the compounds provide a targeted approach to the treatment of ovarian, breast, pancreatic, melanoma, myeloma, and renal cancers.
About VioQuest Pharmaceuticals, Inc.
VioQuest Pharmaceuticals, Inc. strategy is to acquire and develop late preclinical and early clinical-stage therapies for oncological, viral and autoimmune diseases. The Company recently entered into a definitive merger agreement to acquire Greenwich Therapeutics, which owns exclusive license rights to two anti-cancer agents - sodium stibogluconate (SSG) and triciribine (TCN-P). VioQuest's life science subsidiary, Chiral Quest, Inc., a pioneer in asymmetric synthesis, offers proprietary chiral catalysts and synthesis expertise for creating important chiral intermediates and products, which improve the safety and efficacy of pharmaceutical products. Through Chiral Quest, VioQuest provides products and services to twelve of the top eighteen pharmaceutical companies at all stages of product life cycles and fine chemical manufacturers worldwide. For more information please visit www.vioquestpharm.com.
Forward-Looking Statements: This press release contains forward-looking statements that involve risks and uncertainties that could cause VioQuest's actual results and experiences to differ materially from the anticipated results and expectations expressed in these forward-looking statements. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties, which could cause actual outcomes and results to differ materially from these statements. Among other things, there can be no assurances that any of VioQuest's research programs and compounds will be successfully commercialized, or that the proposed acquisition of Greenwich Therapeutics will be completed. Risks, uncertainties and assumptions also include the possibility that the market for the sale of certain products may not develop as expected; and that development of these products may not proceed as planned. Additional risks are described in VioQuest's Annual Report on Form 10-KSB for the year ended December 31, 2004. VioQuest assumes no obligation and does not intend to update these forward-looking statements.