BASKING RIDGE, N.J., Nov. 14 VioQuestPharmaceuticals (OTC Bulletin Board: VQPH) a biopharmaceutical company focusedon developing cancer therapeutics, today announced the resignation of DanielGreenleaf who will pursue other opportunities after a successful tenure at theCompany. Brian Lenz, the Company's Chief Financial Officer, will serve asinterim Chief Executive Officer.
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Stephen Rocamboli, Chairman of the Board of Directors, expressed thegratitude of the rest of the Board. Mr. Rocamboli said, "Dan successfullyguided us through a difficult transition from a chemistry company to abiopharmaceutical company with three promising product candidates in humanclinical trials. We thank him for his efforts and wish him success in hisfuture endeavors."
Mr. Greenleaf served as President and Chief Executive Officer of VioQuestsince February 2005.
About VioQuest Pharmaceuticals
VioQuest focuses on acquiring, developing, and commercializing targetedlate preclinical and early clinical stage therapies with unique mechanisms ofaction primarily for oncology and infectious diseases. VioQuest has threetargeted drug candidates in clinical development: VQD-002 which inhibitsactivation of Akt that is seen at abnormally high levels in breast, ovarian,colorectal, pancreatic, and hematologic cancers; Lenocta(TM), an inhibitor ofspecific protein tyrosine phosphatases (PTPases), SHP-1 and SHP-2, which hasshown compelling clinical and biological activity in solid tumors andXyfid(TM), a topical therapy which has shown early clinical promise in thetreatment and prevention of chemo-induced Hand-Foot Syndrome (HFS). VioQuestanticipates 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 areplanning to submit a New Drug Application (NDA) to the U.S. Food and DrugAdministration (FDA) in 2008 for Lenocta(TM) for the treatment ofleishmaniasis.
Further information about VioQuest can be found at www.vioquestpharm.com.
This press release contains forward-looking statements that involve risksand uncertainties that could cause VioQuest's actual results and experiencesto differ materially from the anticipated results and expectations expressedin these forward-looking statements. These statements are often, but notalways, made through the use of words or phrases such as anticipates, expects,plans, believes, intends, and similar words or phrases. These statements arebased on current expectations, forecasts and assumptions that are subject torisks and uncertainties, which could cause actual outcomes and results todiffer materially from these statements. In addition, this press release alsoincludes forward-looking statements regarding the timing, progress and resultsof the clinical development, regulatory processes, potential clinical trialinitiations, potential IND and NDA filings and commercialization efforts ofVioQuest's drug development product candidates. These statements are subjectto various risks and uncertainties and include the possibility that theresults of clinical trials will not support VioQuest's claims, the possibilitythat VioQuest's development efforts relating to its product candidates,including Lenocta(TM), VQD-002, and Xyfid(TM) will not be successful, theinability to obtain regulatory approval of VioQuest's product candidates,VioQuest's reliance on third-party researchers to develop its productcandidates, its lack of experience in developing and commercializingpharmaceutical products, and the possibility that its licenses to develop andcommercialize its product candidates may be terminated. Additional risks aredescribed in VioQuest's Annual Report on Form 10-KSB for the year endedDecember 31, 2006. VioQuest assumes no obligation and does not intend toupdate these forward-looking s