Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
ROCAMBOLI STEPHEN
  2. Issuer Name and Ticker or Trading Symbol
VioQuest Pharmaceuticals, Inc. [VQPH]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Secretary
(Last)
(First)
(Middle)
787 SEVENTH AVENUE, 48TH FLOOR
3. Date of Earliest Transaction (Month/Day/Year)
06/13/2008
(Street)

NEW YORK, NY 10019
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, $.001 par value               71,933 (1) I By Trust
Common Stock, $.001 par value               1,550 (1) D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrant $ 14.1 (1)             10/18/2005 10/18/2010 Common Stock 14,400 (1)   14,400 (1) D  
Stock Option $ 19.6 (1) 06/13/2008   D(2)     1,290 (1)   (2) 10/28/2013 Stock Option, $.001 par value 1,290 (1) $ 0 0 D  
Stock Option $ 0.54 06/13/2008   A(2)   1,290     (2) 10/28/2013 Common Stock, $.001 par value 1,290 $ 0 1,290 D  
Stock Option $ 3.8 (1) 06/13/2008   D(3)     10,000 (1)   (3) 07/11/2017 Common Stock, $.001 par value 10,000 (1) $ 0 0 D  
Stock Option $ 0.54 06/13/2008   A(3)   10,000     (3) 07/11/2017 Common Stock, $.001 par value 10,000 $ 0 10,000 D  
Stock Option $ 0.54 06/13/2008   A   100,000     (4) 06/13/2018 Common Stock, $.001 par value 100,000 $ 0 100,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
ROCAMBOLI STEPHEN
787 SEVENTH AVENUE, 48TH FLOOR
NEW YORK, NY 10019
  X     Secretary  

Signatures

 /s/ Stephen C. Rocamboli   06/18/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Adjusted to reflect a 1-for-10 reverse stock split effective on 4/25/2008.
(2) This transaction involves an amendment to an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on 10/28/2003 and is fully vested.
(3) This transaction involves an amendment to an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option was originally granted on 7/11/2007 and provided for vesting in three annual installments beginning on 7/11/07.
(4) 33,334 shares vest immediately; 33,333 shares vest on each of 6/13/09 and 6/13/10.

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