BASKING RIDGE, N.J., Sept. 12 /PRNewswire-FirstCall/ -- VioQuest Pharmaceuticals, Inc. (OTC Bulletin Board: VQPH - News), a New Jersey-based biopharmaceutical company, announced that it has dosed the first patient in its Phase I/IIa clinical trial of VQD-002, triciribine-phosphate (TCN-P) at the University of Texas MD Anderson Cancer Center. Dr. Farhard Ravandi is the principal investigator of the clinical trial which focuses on the treatment of leukemia patients. Leukemia is a particularly interesting indication because approximately 70% of patients with the disease have tumors with hyper- phosphorylated Akt.
Akt, also know as Protein Kinase B, is hyper-phosphorylated (and thereby over activated) in a high percentage of leukemia tumors and a wide range of solid tumors, including breast, ovarian, colorectal and pancreatic cancers. It is believed to be involved in the activation and proliferation of tumors’ cells and, as such, is thought to be a target.
A number of other companies are conducting research in Akt inhibitors, however, the Company believes that VQD-002 is the only compound in development that is a direct, specific inhibitor of the Akt protein and is also the most clinically advanced.
Francis Giles, M.D., Chairman of VioQuest’s Scientific Advisory Board, commented, “Targeted agents like VQD-002 are the future of oncology treatment. The commencement of this clinical trial is an important milestone for VioQuest and the hematological cancer community.” Dr. Giles is a Professor of Medicine and Chief of the Section of Developmental Therapeutics, Department of Leukemia, The University of Texas MD Anderson Cancer Center. He focuses on developing therapies for patients with hematological malignancies. He is also co-chair of the Division of Cancer Medicine Phase I group.
Daniel Greenleaf, VioQuest’s CEO, stated, “The enrollment of patients at MD Anderson is a demonstration of the ramp up of our clinical programs bringing the number of centers to four. We are hopeful that VQD-002 will find its place in the arsenal of targeted anti-cancer compounds such as those targeting BCR-ABL, HER2, VEGF and EGF.”
About VioQuest Pharmaceuticals, Inc.
VioQuest Pharmaceuticals, Inc. is a biopharmaceutical company focused on acquiring, developing, and commercializing targeted late preclinical and early clinical stage therapies with unique mechanisms of action for oncology, viral and autoimmune disorders. A pioneer in personalized therapeutics, VioQuest has two targeted oncology compounds in clinical trials: VQD-001, an inhibitor of specific protein tyrosine phosphatases, which has shown compelling preclinical activity in both renal and melanoma cancers, and VQD-002, a specific inhibitor of phosphorylated Akt, which has also shown compelling preclinical activity in abnormal levels in breast, ovarian, colorectal, pancreatic, and liquid cancers.
VioQuest’s subsidiary Chiral Quest, a leader in asymmetric chemocatalysis and custom synthesis, offers its proprietary technology products to well-known pharmaceutical and fine chemical companies worldwide to improve their production efficiencies and, in some instances, to increase the overall safety and efficacy of the underlying drug.
Forward-Looking Statements
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 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. Among other things, there can be no assurances that any of VioQuest’s product candidates will be successfully commercialized. Risks, uncertainties and assumptions also 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 VQD-001 and VQD-002, will be successful. Other risks that may affect forward-looking information contained in this press release include the possibility of being unable to obtain regulatory approval of VioQuest’s product candidates, VioQuest’s reliance on third-party researchers to develop its product candidates, and its lack of experience in developing and commercializing pharmaceutical products. Additional risks are described in VioQuest’s Annual Report on Form 10-KSB for the year ended December 31, 2005. VioQuest assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
Contact: VioQuest Pharmaceuticals, Inc.: Daniel Greenleaf Brian Lenz Chief Executive Officer Chief Financial Officer 908-766-4400 908-766-4400 Noonan Russo: Sharon Weinstein Benjamin Carmichael Investor Relations Media 212-845-4271 212-845-4242
Source: VioQuest Pharmaceuticals, Inc
