Press Release: MediQuest Therapeutics announces Vascana Phase 3a clinical trial results

Vascana Phase IIIa clinical trial results hold promise for millions suffering from Raynaud's Disease

Bothell, WA - Nov. 13, 2006 - Today MediQuest Therapeutics, Inc., a specialty pharmaceutical company, announced the results of its Phase IIIa clinical study of Vascana - a non-systemic, topical application designed to treat Raynaud's Disease - at the annual American College of Rheumatology (ACR) meeting in Washington D.C.

Vascana represents the first therapy designed specifically to treat the more than nine million patients in the U.S. suffering from Raynaud's Disease. The study findings concluded that Vascana:

* Rapidly increases blood flow. A significant improvement in blood flow was noted with both doses of study medication compared to placebo.
* Is well tolerated in patients with Raynaud's Disease with minimal to no side effects. Side effects from the Phase IIIa study included headaches and dizziness and were similar to placebo.
* May have clinical benefits in patients suffering from Raynaud's Disease.

"MediQuest is a specialty pharmaceutical company developing 'first- and best-in-class' topical therapies in late stage clinical development to treat patients suffering from inflammatory and infectious skin diseases," said Dr. Fredrick J. Dechow, CEO. "Vascana is the first new, potential treatment option for Raynaud's Disease in more than 20 years. There is currently no pharmaceutical product specifically approved by the FDA for patients suffering from Raynaud's Disease."

Of the more than nine million people suffering from Raynaud's Disease in the U.S., 90 percent are women and one million people require year-round medical treatment for the disease.

"Vascana is a new therapy designed to treat an unmet clinical need," said Dr. Jeff Gregory, Chief Medical Officer of MediQuest Therapeutics. "Our clinical trial results are exciting because they show that the product works and that it's well tolerated by patients."

Because patients who participated in this study served as their own control, paired-difference statistical analysis may show even greater significant difference and improved result of Vascana over placebo.

Additional Phase III programs are underway in North America and Europe to test the therapy in patients in non-laboratory settings.

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.