June 25, 2007

FOR IMMEDIATE RELEASE

 

Media Contacts:

                                                                   Emily Zshornack-Topacio, MediQuest

Phone: 425-398-9580; E-mail: emily@mqti.com

Robert Gara, APCO Worldwide

Phone: 206-239-0111; E-mail: rgara@apcoworldwide.com

MediQuest Concludes Confirmatory Phase III Study of Raynaud’s Therapy

BOTHELL, WA – June 25 – MediQuest Therapeutics, Inc., a specialty pharmaceutical company focused on developing therapies for inflammatory and infectious diseases, today announced the completion of its confirmatory phase III study of Vascana – a topical formulation designed to treat Raynaud’s Disease.

The study met its primary end point and demonstrated statistical significance, with p = 0.008 for the Intent-to-Treat patient population.  Typically, a probability value (p) less than .05 is commonly accepted as establishing statistical significance between treatment groups.

“With the conclusion of this clinical study, MediQuest is one step closer to submitting the Vascana New Drug Application to the FDA,” said MediQuest President and CEO Dr. Frederick Dechow.  “If approved, Vascana would be the first drug on the market specifically designed to prevent and treat Raynaud’s symptoms, providing clinicians with a needed treatment for patients.” 

Vascana has the potential of satisfying an unmet medical need for more than 2 million Americans seeking care for Raynaud’s Disease.

In addition to Vascana, MediQuest’s ongoing developmental efforts have generated a robust pipeline that includes three drug candidates in clinical trials, one at the pre-clinical stage and others at the research stage. The company develops first- and best-in-class topical therapies to treat patients suffering from inflammatory and infectious diseases.

About MediQuest Therapeutics, Inc.
MediQuest Therapeutics is a specialty pharmaceutical company using its proprietary topical delivery system in late-stage clinical trials targeting infectious and inflammatory skin diseases and conditions. The Company’s major efforts are focused on projects targeting Raynaud’s phenomenon, nail psoriasis and actinic keratosis.

In addition to historical facts or statements of current condition, this press release contains forward-looking statements within the meaning of the ‘Safe Harbor’ provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide the Company’s current expectation or forecasts of future events. MediQuest’s performance and financial results could differ materially from those reflected in these forward-looking statements due to the decisions of regulatory authorities, ability to implement its commercial plans, general financial, economic, regulatory and political conditions affecting the biotechnology and pharmaceutical industries generally. For a discussion of these and other risks and uncertainties that may affect the forward-looking statements please contact the Company. Given these risks and uncertainties, any or all of these forward-looking statements may prove to be incorrect. MediQuest undertakes no obligation to update publicly any forward-looking statement.

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