VOQP VioQuest Pharmaceuticals Inc (CE)

VioQuest Pharmaceuticals (OTCBB: VOQP) announced today that the company�s novel Akt inhibitor VQD-002 (triciribine phosphate monohydrate, or TCN-P) has been selected as one of the Top 10 most promising oncology projects in development available for strategic partnering by an independent committee assembled by Windhover Information, a leading provider of business information products and services to senior executives in the pharmaceutical, biotechnology, and medical device industries. "Selected companies have been screened using a strict set of judging criteria for the Top 10 award and represent what our committee considered the most attractive cardiovascular opportunities the industry has to offer," said Roger Longman, Managing Director of Windhover Information. "Winners have met rigorous criteria including: unmet medical need, market potential, diversity of indications, strong science, multi-level partnering opportunities (biotech and pharma), potential for new opportunities beyond initial indications, and corporate stability.� "We are delighted that Windhover has recognized the potential of VQD-002 to address serious unmet needs in cancer treatment," said Michael D. Becker, president and chief executive officer of VioQuest. "With its demonstrated ability to inhibit Akt and its synergies with many widely used cancer therapies, VQD-002 represents a potentially important new way to treat a range of cancers. We look forward to continuing our efforts to advance this promising compound through clinical development.� The selection committee was led by Marc Wortman, Ph.D., contributing writer to Windhover�s In Vivo and Start Up, and a team from Campbell Alliance, a leading business development strategy consulting firm. Drawing on the analytic resources of these organizations, the group evaluated hundreds of compounds currently in development for the treatment of cancer prior to selecting VQD-002 to be among the top ten most attractive. As a selected company, VioQuest Pharmaceuticals has been invited to present data on VQD-002 at Windhover�s Therapeutic Area Partnerships conference on November 3-5, 2008, in Philadelphia, PA. About VQD-002 VQD-002 (triciribine phosphate monohydrate, or TCN-P), a tricyclic nucleoside that inhibits the activation of Akt, has demonstrated anti-tumor activity against a wide spectrum of cancers in preclinical and clinical studies. Amplification, overexpression, or activation of Akt, also named protein kinase B, have been detected in a number of human malignancies, including prostate, breast, ovarian, colorectal, pancreatic, and hematologic cancers. Activation of Akt is associated with cell survival, malignant transformation, tumor invasiveness, and chemo-resistance, while inhibition of Akt activity has been shown to cause cell death. These attributes make Akt an attractive target for cancer therapy. About VioQuest Pharmaceuticals VioQuest Pharmaceuticals is a New Jersey-based biotechnology company dedicated to becoming a recognized leader in the successful development of novel drug therapies targeting both the molecular basis of cancer and side effects of treatment. VioQuest�s oncology portfolio includes: Xyfid� (1% uracil topical), for the treatment of dry skin conditions and to manage the burning and itching associated with various dermatoses; VQD-002 (triciribine phosphate monohydrate), a targeted inhibitor of Akt activation; and Lenocta� (sodium stibogluconate), an inhibitor of certain protein tyrosine phosphatases such as SHP-1, SHP-2, and PTP1B. Further information about VioQuest can be found at www.vioquestpharm.com. 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 forward-looking statements concern the timing, progress and results of the clinical development, regulatory processes, potential clinical trial initiations of VioQuest�s product candidates, as well as our ability to complete strategic transactions. These statements are often, but not always, made through the use of words or phrases such as anticipates, expects, plans, believes, intends, and similar words or phrases. 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. These statements are subject to various risks and uncertainties and include VioQuest�s immediate need for additional capital to cover its current obligations and future operating expenses and fund its clinical development programs, 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 will not be successful, the inability to obtain regulatory approval of VioQuest's product candidates, VioQuest's reliance on third-party researchers to develop its product candidates, its lack of experience in developing and commercializing pharmaceutical products, and the possibility that its licenses to develop and commercialize its product candidates may be terminated. Additional risks are described in VioQuest's Annual Report on Form 10-KSB for the year ended December 31, 2007. VioQuest assumes no obligation and does not intend to update these forward-looking statements, except as required by law.