VioQuest Pharmaceuticals appoints Christopher P. Schnittker, CPA, as chief financial officer

BASKING RIDGE, N.J. -- VioQuest Pharmaceuticals (OTCBB: VOQP) announced that Christopher P. Schnittker, CPA, has joined the company as vice president and chief financial officer (CFO) effective today. Mr. Schnittker succeeds Brian Lenz, who resigned to accept a CFO position with a biotechnology company and will stay on with VioQuest until August 14, 2008 to assist with the transition.

"With his extensive experience in financial management for both public and privately held biotechnology and pharmaceutical companies, Chris will be a tremendous asset for VioQuest as we continue to grow our business in the years ahead," said Michael D. Becker, president and CEO of VioQuest Pharmaceuticals. "His background will help us plan and execute the potential partnership and license opportunities that will advance our pipeline of novel drug therapies targeting both the molecular basis of cancer and side effects of treatment. We are also grateful to Brian Lenz, who has been instrumental through his executive leadership and execution of the company’s strategy throughout his tenure.”

Prior to joining VioQuest Pharmaceuticals, Mr. Schnittker served as senior vice president and CFO at Micromet, Inc., from October 2006 to December 2007. Prior to joining Micromet, Mr. Schnittker served as senior vice president and CFO at Cytogen Corporation from September 2003 to June 2006. Prior to joining Cytogen, Mr. Schnittker was senior vice president, CFO and corporate secretary of Genaera Corporation from June 2000 to August 2003. Mr. Schnittker has also held management positions in accounting and finance at GSI Commerce, Rhône-Poulenc Rorer, and Price Waterhouse LLP. He received his B.A. degree in economics and business with a concentration in accounting from Lafayette College and is a certified public accountant (CPA) licensed in the State of New Jersey.

About VioQuest Pharmaceuticals
VioQuest Pharmaceuticals is a New Jersey-based biotechnology company dedicated to becoming a recognized leader in the successful development of novel drug therapies targeting both the molecular basis of cancer and side effects of treatment. VioQuest’s oncology portfolio includes: Xyfid™ (1% uracil topical), for the treatment of dry skin conditions and to manage the burning and itching associated with various dermatoses; VQD-002 (triciribine phosphate monohydrate), a targeted inhibitor of Akt activation; and Lenocta™ (sodium stibogluconate), an inhibitor of certain protein tyrosine phosphatases such as SHP-1, SHP-2, and PTP1B.

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 forward-looking statements concern the timing, progress and results of the clinical development, regulatory processes, potential clinical trial initiations of VioQuest’s product candidates, as well as our ability to complete strategic transactions. 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. These statements are subject to various risks and uncertainties and include VioQuest’s immediate need for additional capital to cover its current obligations and future operating expenses and fund its clinical development programs, 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 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, 2007. VioQuest assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

SOURCE: VioQuest

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