Issue Date: April 23, 2007
VioQuest Will Sell Chiral Quest Unit
VioQuest Pharmaceuticals will sell its Chiral Quest asymmetric chemistry subsidiary to a management group led by Chiral Quest founder and chief technology officer Xumu Zhang. The deal values Chiral Quest at $3 million, of which $1.7 million will be paid in cash and the rest assumed as liabilities. Chiral Quest has 30 employees in China and 15 in New Jersey, where Zhang is also professor of organic chemistry at Rutgers University. Since 2004, VioQuest has shifted its focus toward targeted cancer compounds.
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