VioQuest Pharmaceuticals Announces Presentation on VQD-002 at the Upcoming American Society of Hematology 49th Annual Meeting

BASKING RIDGE, N.J.--(BUSINESS WIRE)--VioQuest Pharmaceuticals (OTCBB: VQPH) today announced that updated preliminary clinical trial results from the Phase I study of VQD-002 (triciribine phosphate, TCN-P) for advanced hematological malignancies will be presented at the 2007 American Society of Hematology (ASH) 49th Annual Meeting in Atlanta, GA, on Saturday, December 8, 2007.

The presentation details are as follows:

Title:	Phase I Study of Triciribine Phosphate Monohydrate, a
	Specific Inhibitor of AKt Phosphorylation, in Adult
	Patients with Advanced Hematologic Malignancies
Date/Time:	Saturday, December 8, 2007, 5:30 - 7:30 PM EST
Session:	Acute Myeloid Leukemias: Therapy, excluding
	Transplantation I
Poster board:	#67-I
Abstract:	913
The abstract is currently available online at:  http://www.abstracts2view.com/hem07

About VQD-002

VQD-002 (triciribine phosphate, TCN-P) is a tricyclic nucleoside that inhibits Akt, also named protein kinase B, which represents a subfamily of the serine/threonine kinase. Three members, AKT1, AKT2, and AKT3, have been identified in this subfamily and VQD-002 has been shown to inhibit all three isoforms. Akt is activated by extracellular stimuli in a phosphatidylinositol 3’-kinase (PI3k)-dependent manner. Akt is negatively regulated by PTEN tumor suppressor. Mutations in PTEN have been identified in various tumors, which lead to activation of Akt pathway. In addition, amplification, overexpression, and/or activation of Akt have been detected in a number of human malignancies, including prostate, breast, ovarian, colorectal, pancreatic, and hematologic cancers. Ectopic expression of Akt induces cell survival and malignant transformation, whereas inhibition of Akt activity stimulates apoptosis in a range of mammalian cells. Furthermore, activation of Akt has been shown to associate with tumor invasiveness and chemoresistance. These observations establish Akt as an attractive target for cancer therapy. Preclinical testing of VQD-002 has demonstrated anti-tumor activity against a wide spectrum of cancers.

About VioQuest Pharmaceuticals

VioQuest focuses on acquiring, developing, and commercializing targeted late preclinical and early clinical stage therapies with unique mechanisms of action primarily for oncology and infectious diseases. VioQuest has three targeted drug candidates in clinical development: VQD-002 which inhibits Akt, a member of the serine/threonine-specific protein kinase family that is amplified, overexpressed, and/or activated in prostate, breast, ovarian, colorectal, pancreatic, and hematologic cancers; Lenocta™, an inhibitor of specific protein tyrosine phosphatases SHP-1, SHP-2, and PTP1B that has demonstrated clinical and biological activity in solid tumors; and Xyfid™, a topical therapy which is being developed for the treatment and prevention of chemotherapy-induced Hand-Foot Syndrome (HFS). VioQuest anticipates commencing Phase II trials for VQD-002, and Xyfid in the first half of 2008. In addition, VioQuest and the U.S. Army are planning to submit a New Drug Application (NDA) to the U. S. Food and Drug Administration (FDA) in 2008 for Lenocta for the treatment of leishmaniasis.

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 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. In addition, this press release also includes forward-looking statements regarding the timing, progress and results of the clinical development, regulatory processes, potential clinical trial initiations, potential IND and NDA filings and commercialization efforts of VioQuest's drug development product candidates. These statements are subject to various risks and uncertainties and 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 Lenocta™, VQD-002, and Xyfid™ 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, 2006. VioQuest assumes no obligation and does not intend to update these forward-looking statements, except as required by law.