Clinical Data on Lenocta, a Protein Tyrosine Phosphatase Inhibitor in Development at VioQuest Pharmaceuticals, Accepted for Oral Presentation at ASCOBASKING RIDGE, N.J.--(BUSINESS WIRE)--Mar 10, 2008 - VioQuest Pharmaceuticals (OTCBB: VQPH) today announced that the American Society of Clinical Oncology (ASCO) has accepted for oral presentation the Company's abstract for Lenocta(TM) (sodium stibogluconate), an inhibitor of certain protein tyrosine phosphatases. The abstract titled "Phase I dose escalation study of sodium stibogluconate (SSG), a protein tyrosine phosphatase inhibitor, combined with interferon-alpha for patients with solid tumors", is scheduled to be presented at the 44th ASCO Annual Meeting, May 30 - June 3, 2008 in Chicago, Illinois.
This presentation will describe findings from a Phase I trial with Lenocta, a selective, small molecule inhibitor of certain protein tyrosine phosphatases, in cancer patients with a broad range of metastatic solid tumor types who had failed prior treatment regimens. Consistent with the disclosure policies mandated by ASCO, VioQuest Pharmaceuticals will summarize the contents of this study at the time the complete abstract is presented or published. The 2008 Annual Meeting abstracts designated for oral, clinical science symposia, poster discussion, and general poster sessions will be publicly released on ASCO's website on Thursday, May 15 at 9:00 PM (EDT).
Lenocta (sodium stibogluconate) is a selective, small molecule inhibitor of certain protein tyrosine phosphatases (PTPs), such as SHP-1, SHP-2 and PTP1B, with demonstrated anti-tumor activity against a wide spectrum of cancers both alone and in combination with other approved immune activation agents, including IL-2 and interferons. PTPs are a family of proteins that regulate signal transduction pathways in cells and have been implicated in a number of diseases including cancer, diabetes, and neurodegeneration. Lenocta is currently in a Phase IIa clinical trial as a potential treatment for melanoma, renal cell carcinoma, and other solid tumors.
In addition to its potential role as a cancer therapeutic, sodium stibogluconate has been approved in most of the world for first-line treatment of leishmaniasis, an infection typically found in tropic and sub-tropic developing countries. Based on historical published data and a large observational study by the U.S. Army, data from approximately 400 patients could be utilized to support a New Drug Application with the U.S. Food and Drug Administration (FDA) in 2008. Lenocta has been granted Orphan Drug status for leishmaniasis.
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: VQD-002 (triciribine phosphate monohydrate), a targeted inhibitor of Akt phosphorylation, which is currently being tested in Phase I clinical trials in both solid and hematological malignancies; Lenocta(TM) (sodium stibogluconate), an inhibitor of certain protein tyrosine phosphatases such as SHP-1, SHP-2, and PTP1B, which is currently in a Phase IIa trial for solid tumors; and Xyfid(TM) (1% topical uracil), which is expected to enter Phase II development in 2008 for the treatment and prevention of Hand-Foot Syndrome, a common side effect from certain chemotherapy treatments.
Further information about VioQuest can be found at www.vioquestpharm.com.
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 the potential role these product candidates may play in the treatment of cancers. 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 need for additional capital to 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, 2006. VioQuest assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
Posted: March 2008