VioQuest Pharmaceuticals Submits 510(k) Application to FDA for Xyfid(TM), a Novel Topical Agent for the Treatment of Various Ski

  
    
  
  
    
      VioQuest Pharmaceuticals (OTCBB: VOQP) today announced the submission of 
      a 510(k) application to the United States Food and Drug Administration 
      (FDA). The application seeks marketing clearance for Xyfid™ 
      (1% uracil topical), a topical skin preparation intended to relieve and 
      to manage the burning and itching associated with various dermatoses 
      including atopic dermatitis, irritant contact dermatitis, radiation 
      dermatitis and other dry skin conditions, by maintaining a moist wound 
      and skin environment. If cleared by the FDA, Xyfid™ 
      will be the company's first commercial product.
    
    
      "The submission of our 510(k) application for Xyfid™ 
      marks an important milestone in our company's history and we look 
      forward to reporting our progress on this and on other fronts in the 
      months ahead," said Michael D. Becker, president and CEO of VioQuest 
      Pharmaceuticals. “With this submission, we are 
      also well positioned to consider opportunities for partnership or 
      collaboration to support the commercialization strategy for this novel 
      supportive care oncology product candidate.”
    
    
      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.