VioQuest Pharmaceuticals' VQD-002 Named One of 10 Most Promising Oncology Projects by Windhover

  
    
  
  
    
      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.