VioQuest Pharmaceuticals, Inc.recently completed its acquisition of Greenwich Therapeutics, which owned the exclusive rights to two anti-cancer compounds that provide a targeted approach to the treatment of ovarian, breast, pancreatic, melanoma, myeloma, and renal cancers:

VQD-001 — Sodium Stibogluconate (SSG), targets a class of enzymes, protein tyrosine phosphatases, in cells that may play a significant role in certain types of cancer. SSG recently entered a Phase I clinical trial at the Cleveland Clinic Cancer Center to examine the effectiveness, safety and tolerability of SSG for the treatment of solid tumors, lymphoma and myeloma.

VQD-002 — Triciribine (TCN-P), a tricyclic nucleoside currently being developed at the Moffitt Cancer Center, University of South Florida, has been shown in preclinical studies to significantly inhibit tumor growth associated with Akt over-expression, which often occurs in breast, ovarian, colorectal and other cancers.

“With the acquisition of these two promising oncology compounds and net proceeds from the private placement, we are well positioned to aggressively drive the further clinical development of our therapeutics pipeline,” commented Daniel Greenleaf. “Based on the strong body of preclinical data, we are very hopeful about the potential of both drug candidates to serve a tremendous need in the oncology market and look forward to continuing their respective clinical programs with two renowned cancer research centers, the Cleveland Clinic Cancer Center in Ohio and Moffitt Cancer Center in Florida.”

In addition, prior to the acquisition of Greenwich, VioQuest completed its reincorporation under Delaware law, which was approved by VioQuest’s shareholders at a special meeting held on October 6, 2005.