BASKING RIDGE, N.J., May 24, 2006 (PRIMEZONE) -- VioQuest Pharmaceuticals (OTCBB:VQPH), a New Jersey-based biopharmaceutical company focused on acquiring, developing and commercializing targeted cancer compounds, has initiated a Phase I/IIa clinical trial to assess the safety and dosing of VQD-002, triciribine-phosphate (TCN-P). This trial is being conducted in up to 20 patients with diverse solid tumors, where abnormal levels of phosphorylated Akt (protein kinase B) have been observed. The co-inventors for VQD-002 are Dr. Said M. Sebti and Dr. Jin Cheng from The University of South Florida H. Lee Moffitt Cancer Center and Research Institute.
"This clinical trial, which is tailored only to those patients whose cancers have aberrantly activated Akt, is truly at the forefront of molecularly targeted trials and personalized medicine," said Dr. Sebti. "Based on our preclinical studies, we hope that by enriching for patients whose tumors have hyperactivated Akt, the clinical response rate to triciribine will be enhanced."
VQD-002 is a targeted tricyclic nucleoside that was originally developed by the National Cancer Institute ("NCI") and is 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 that demonstrate an over-expression of phosphorylated Akt.
"The initiation of this trial is a testament to VioQuest's commitment to finding more precise - and potentially more successful - cancer treatments that target the appropriate patient population," said Daniel Greenleaf, VioQuest's president and chief executive officer.
About VioQuest Pharmaceuticals, Inc.
VioQuest Pharmaceuticals, Inc. is focused on acquiring, developing and commercializing targeted late preclinical and early clinical stage therapies with unique mechanisms of action for oncology, viral and autoimmune disorders. A leader in personalized therapeutics, VioQuest has two targeted therapeutics in clinical trials: VQD-001, an inhibitor of specific protein tyrosine phosphatases, has shown compelling preclinical activity in both renal and melanoma cancers, and VQD-002, which has been shown to inhibit the phosphorylation of Akt seen in abnormal levels in breast, ovarian, colorectal, pancreatic cancers and leukemia.
VioQuest's subsidiary Chiral Quest, a pioneer in asymmetric chemocatalysis and custom synthesis, offers its proprietary technology products to well-known pharmaceutical and fine chemical companies worldwide to improve their production efficiencies and, in some instances, to increase the overall safety and efficacy of the underlying drug. 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 results of clinical trials will not support VioQuest's claims, the possibility that VioQuest's development efforts relating to its product candidates, including VQD-001 and VQD-002, will be successful. Other risks that may affect forward-looking information contained in this press release include the possibility of being unable to obtain regulatory approval of VioQuest's product candidates, VioQuest's reliance on third-party researchers to develop its product candidates, and its lack of experience in developing and commercializing pharmaceutical products. Additional risks are described in VioQuest's Annual Report on Form 10-KSB for the year ended December 31, 2005. VioQuest assumes no obligation and does not intend to update these forward-looking statements, except as required by law.