MONMOUTH JUNCTION, N.J., Oct. 12, 2005 (PRIMEZONE) -- VioQuest Pharmaceuticals, Inc., (OTCBB:VQPH) was named among "New Jersey's 50 Finest" by NJBIZ Magazine. The Company was honored in an awards ceremony that took place on Tuesday, October 11 at The Palace at Somerset Park. The host of the program was NJBIZ, a weekly newspaper that reports on the businesses of New Jersey. The awards were sponsored by Dendrite International, McCarter & English, PNC Bank, PricewaterhouseCoopers and Prudential Financial.
VioQuest was selected from more than 250,000 nominated New Jersey businesses. The Company is being recognized for a variety of achievements, including their impact on the New Jersey economy, employment growth and a track record of substantial revenue growth. Additional coverage on the event will be reported in the Monday, October 17, 2005 issue of NJBIZ, and a profile on VioQuest is expected to be included in the issue.
"It is a tremendous honor to be selected as a finalist from among the thousands of excellent companies nominated for this prestigious award," said VioQuest President and CEO Daniel Greenleaf.
"We are extremely proud of our rapid growth over the last year, as evidenced by a 45 percent revenue increase from the prior quarter," adds Mr. Greenleaf.
About VioQuest Pharmaceuticals, Inc.
VioQuest Pharmaceuticals, Inc.'s 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 fine chemical manufacturers and 12 of the top 18 pharmaceutical companies 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. 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, except as required by law.