MONMOUTH JUNCTION, N.J., Feb. 15, 2006 (PRIMEZONE) -- VioQuest Pharmaceuticals, Inc. (OTCBB:VQPH) was named among the "2005 Deloitte Technology Fast 500," a collection of the 500 fastest growing technology companies in North America. Rankings are based on percentage revenue growth over five years, from 2000 to 2004. VioQuest's growth of over 200% during this period was attributed to its subsidiary Chiral Quest, through commercializing and selling its proprietary products and services to an increased number of pharmaceutical and fine chemical companies.
"It is a tremendous honor to be selected as one of Deloitte's 500 fastest growing technology companies in North America. This achievement is a testament of our commitment and dedicated efforts over the past five years in the further development and expansion of our proprietary chiral technology and contract process services' offerings," said Daniel Greenleaf, VioQuest CEO. "The Company's growth further continued through 2005 with the acquisition of two targeted therapeutic oncology compounds, VQD-001 (sodium stibogluconate), a protein tyrosine phosphatase inhibitor, and VQD-002 (triciribine phosphate), a specific inhibitor of phosphorylated Akt."
Tony Kern, Deputy National Managing Principal of Deloitte's Technology, Media & Telecommunications industry practice, commented, "Making the Deloitte Technology Fast 500 is commendable in today's highly competitive technology industry. We congratulate VioQuest Pharmaceuticals on being one of the 500 fastest growing technology companies in North America."
The Fast 500 list is compiled from Deloitte's 15 regional North American Fast 50 lists, nominations submitted directly to the Fast 500, and public company database research. To qualify for the Fast 500, entrants must have had 2000 operating revenues of at least US$50,000 or CDN$75,000 for the United States and Canada, respectively, and 2004 operating revenues of at least US$1 million or CDN. Entrants must be headquartered in North America and must be a "technology company," defined as a company that owns proprietary technology that contributes to a significant portion of the company's operating revenues; or devotes a significant proportion of revenues to the research and development of technology.
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 and lymphoma, and breast, ovarian, pancreatic and colorectal cancers, respectively. VQD-001 is currently in clinical trials at the Cleveland Clinic Taussig Cancer Center, and a Phase I/II clinical trial for VQD-002 is expected to initiate in the first quarter of 2006 at the Moffitt Cancer Research Institute in Tampa, Florida. 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.
About Deloitte
Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, its member firms and their respective subsidiaries and affiliates. Deloitte Touche Tohmatsu is an organization of member firms around the world devoted to excellence in providing professional services and advice, focused on client service through a global strategy executed locally in nearly 150 countries. With access to the deep intellectual capital of 120,000 people worldwide, Deloitte delivers services in four professional areas, audit, tax, consulting and financial advisory services, and serves more than one-half of the world's largest companies, as well as large national enterprises, public institutions, locally important clients, and successful, fast-growing global growth companies.
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.