ANX Mast Therapeutics, Inc.

ADVENTRX Pharmaceuticals, Inc. (AMEX:ANX) today announced that positive preclinical data from a study with CoFactor(TM) in a colorectal cancer model were presented at the American Association for Cancer Research (AACR) special conference in cancer research, Colorectal Cancer: Molecular Pathways and Therapies. The study suggests that CoFactor in combination with 5-fluorouracil (5-FU) and oxaliplatin may be an effective chemotherapeutic regimen against colorectal cancer, with higher efficacy and lower toxicity than the equivalent 5-FU, oxaliplatin and leucovorin regimen. ADVENTRX's director of preclinical programs, Mark J. Cantwell, Ph.D., and chief technical officer, Joan M. Robbins, Ph.D., coauthored the study titled, "5,10-Methylenetetrahydrofolate Enhances Antitumor Activity and Reduces Toxicity of 5-Fluorouracil Plus Oxaliplatin Combination Therapy in a Colorectal Cancer Xenograph Model." The poster, presented by Dr. Cantwell in poster session A on October 20 from 5:30-7:30pm, is available via the Company's Web site at www.adventrx.com. The conference is being held from October 19-23 at the Laguna Cliffs Marriott Resort and Spa in Dana Point, Calif. "While combination therapy with 5-FU, leucovorin and oxaliplatin has shown improved clinical efficacy in treating colorectal cancer compared with 5-FU and leucovorin, optimum efficacy with oxaliplatin combination therapy might not be achieved in this combination due to multiple factors. Among these are oxaliplatin's well characterized toxicity and that leucovorin may contribute to the severity of 5-FU's systemic toxicity," said Dr. Cantwell. "Preclinical data suggest that CoFactor as a replacement for leucovorin may result in improved overall efficacy and lower toxicity of 5-FU-containing regimens. CoFactor has already demonstrated antitumor activity with an apparent safer toxicity profile in combination with 5-FU in Phase I and Phase II clinical trials in treatment of metastatic colorectal cancer." About ADVENTRX ADVENTRX Pharmaceuticals is a biopharmaceutical research and development company focused on introducing new technologies for anticancer and antiviral treatments that improve the performance and safety of existing drugs, by addressing significant problems such as drug metabolism, toxicity, bioavailability and resistance. The Company's lead compound, CoFactor(TM), is a biomodulator of 5-fluorouracil (5-FU), a widely used cancer chemotherapy. CoFactor is currently being tested with 5-FU in a US-based Phase II and an EU-based Phase IIb clinical trial as a first line treatment of metastatic colorectal cancer. In addition, CoFactor has received clearance under a special protocol assessment from the FDA to begin a Phase III pivotal clinical trial for metastatic colorectal cancer. More information can be found on the Company's Web site at www.adventrx.com. Forward-Looking Statement This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are made based on management's current expectations and beliefs. Actual results may vary from those currently anticipated based upon a number of factors, including uncertainties inherent in the drug development process, the timing and success of clinical trials, the validity of research results, and the receipt of necessary approvals from the US Food and Drug Administration and other regulatory agencies. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's last quarterly report on Form 10-Q, as well as other reports that the Company files from time to time with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement. The Company undertakes no obligation to release publicly any revisions, which may be made to reflect events or circumstances after the date hereof.