VioQuest Pharmaceuticals Appoints Christopher P. Schnittker, CPA, as Chief Financial Officer

  
    
  
  
    
      VioQuest Pharmaceuticals (OTCBB: VOQP) announced that Christopher P. 
      Schnittker, CPA, has joined the company as vice president and chief 
      financial officer (CFO) effective today. Mr. Schnittker succeeds Brian 
      Lenz, who resigned to accept a CFO position with a biotechnology company 
      and will stay on with VioQuest until August 14, 2008 to assist with the 
      transition.
    
    
      "With his extensive experience in financial management for both public 
      and privately held biotechnology and pharmaceutical companies, Chris 
      will be a tremendous asset for VioQuest as we continue to grow our 
      business in the years ahead," said Michael D. Becker, president and CEO 
      of VioQuest Pharmaceuticals. "His background will help us plan and 
      execute the potential partnership and license opportunities that will 
      advance our pipeline of novel drug therapies targeting both the 
      molecular basis of cancer and side effects of treatment. We are also 
      grateful to Brian Lenz, who has been instrumental through his executive 
      leadership and execution of the company’s 
      strategy throughout his tenure.”
    
    
      Prior to joining VioQuest Pharmaceuticals, Mr. Schnittker served as 
      senior vice president and CFO at Micromet, Inc., from October 2006 to 
      December 2007. Prior to joining Micromet, Mr. Schnittker served as 
      senior vice president and CFO at Cytogen Corporation from September 2003 
      to June 2006. Prior to joining Cytogen, Mr. Schnittker was senior vice 
      president, CFO and corporate secretary of Genaera Corporation from June 
      2000 to August 2003. Mr. Schnittker has also held management positions 
      in accounting and finance at GSI Commerce, Rhône-Poulenc 
      Rorer, and Price Waterhouse LLP. He received his B.A. degree in 
      economics and business with a concentration in accounting from Lafayette 
      College and is a certified public accountant (CPA) licensed in the State 
      of New Jersey.
    
    
      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.