MONMOUTH JUNCTION, N.J., Jan. 9, 2006 (PRIMEZONE) -- VioQuest Pharmaceuticals (OTCBB:VQPH) has announced that it will initiate clinical trials in the first quarter 2006, for VQD-002, Triciribine-Phosphate (TCN-P), a targeted anti-cancer compound with a unique mechanism of action.
VQD-002 is a targeted tricyclic nucleoside currently being developed at the Moffitt Cancer Center in Tampa, Florida. It has been shown in preclinical studies to significantly inhibit tumor growth in breast, ovarian, colorectal, pancreatic and other cancers, where abnormal levels of phosphorylated Akt (protein kinase B) have been observed.
"VQD-002 has shown great promise as a targeted therapeutic during preclinical trials at Moffitt, and we are ready to move this drug into the next phase," said VioQuest's Chief Executive Officer, Daniel Greenleaf.
About VioQuest Pharmaceuticals, Inc.
VioQuest Pharmaceuticals, Inc.'s strategy is to acquire, develop, and commercialize targeted late preclinical and early clinical stage therapies with unique mechanisms of action for oncology, viral and autoimmune disorders. VioQuest is developing two novel anti-cancer agents VQD-001 and VQD-002 for the treatment of melanoma, myeloma, lymphoma; and breast, ovarian, pancreatic, colorectal cancers, respectively. 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 improves the safety, efficacy and manufacturing efficiency of pharmaceutical products. Through Chiral Quest, VioQuest provides products and services to fine chemical manufacturers and twelve of the top eighteen 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.