NEWTON, MA--(Marketwire - January 17, 2008) - HemaQuest Pharmaceuticals, which received its first round of venture financing three months ago, today announced that the U.S. Food and Drug Administration has accepted its application for an investigational new drug (IND) and has started a Phase I clinical trial of its orally administered, patented therapeutic, HQK-1001. The product is being developed to treat the two most common inherited blood diseases, sickle cell anemia and thalassemia.