BASKING RIDGE, N.J., Nov. 14 /PRNewswire-FirstCall/ -- VioQuest Pharmaceuticals (OTC Bulletin Board: VQPH - News) a biopharmaceutical company focused on developing cancer therapeutics, today announced the resignation of Daniel Greenleaf who will pursue other opportunities after a successful tenure at the Company. Brian Lenz, the Company’s Chief Financial Officer, will serve as interim Chief Executive Officer.
Stephen Rocamboli, Chairman of the Board of Directors, expressed the gratitude of the rest of the Board. Mr. Rocamboli said, “Dan successfully guided us through a difficult transition from a chemistry company to a biopharmaceutical company with three promising product candidates in human clinical trials. We thank him for his efforts and wish him success in his future endeavors.”
Mr. Greenleaf served as President and Chief Executive Officer of VioQuest since February 2005.
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 activation of Akt that is seen at abnormally high levels in breast, ovarian, colorectal, pancreatic, and hematologic cancers; Lenocta(TM), an inhibitor of specific protein tyrosine phosphatases (PTPases), SHP-1 and SHP-2, which has shown compelling clinical and biological activity in solid tumors and Xyfid(TM), a topical therapy which has shown early clinical promise in the treatment and prevention of chemo-induced Hand-Foot Syndrome (HFS). VioQuest anticipates commencing Phase II trials for VQD-002, Lenocta(TM) and Xyfid(TM) 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(TM) 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(TM), VQD-002, and Xyfid(TM) 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.
Contact Brian Lenz, Interim Chief Executive Officer and Chief Financial Officer 908-766-4400 ext. 117 brian.lenz@vioquestpharm.com
Lisa Lindberg, Vice President of Investor Relations and Corporate Communications 908-766-4400 ext. 116 lisa.lindberg@vioquestpharm.com
Source: VioQuest Pharmaceuticals
