ANX Mast Therapeutics, Inc.

SAN DIEGO, Feb. 3 /PRNewswire-FirstCall/ -- ADVENTRX Pharmaceuticals, Inc. (AMEX:ANX) announced today that Evan M. Levine, president and CEO, will present a development update for the Company's lead oncology drug, CoFactor(TM), and give a corporate update at the 8th Annual BIO CEO & Investor Conference on February 14 at 2 pm Eastern Time. BIO CEO takes place in New York City at The Waldorf Astoria Hotel, February 14-15, 2006. The BIO CEO conference is hosted by the Biotechnology Industry Organization (BIO), an organization focused exclusively on biotechnology. Attendees will include institutional investors, industry analysts, venture capitalists, investment bankers and other industry experts. Additional conference details and online registration are available at http://www.bio.org/. About CoFactor CoFactor (ANX-510) is a folate-based biomodulator drug being developed to enhance the activity and reduce associated toxicity of the widely used cancer chemotherapeutic agent 5-fluorouracil (5-FU). CoFactor creates more stable binding of the active form of 5-FU to the target enzyme, thymidylate synthase (TS), improving 5-FU performance. The Company reported Phase II results from an independent radiological assessment that found an overall clinical benefit of 85% and objective response of 35% in metastatic colorectal cancer patients treated with CoFactor and 5-FU. The Company also reported longer than expected time to tumor progression (TTP), with no drug-related grade 3 or grade 4 gastrointestinal or hematological toxicities. CoFactor is also being tested in a Phase IIb randomized controlled clinical trial to evaluate CoFactor use with 5-FU as a first line treatment for metastatic colorectal cancer. The Company has received clearance under a special protocol assessment from the US Food and Drug Administration (FDA) to begin a CoFactor Phase III pivotal clinical trial for metastatic colorectal cancer, which is currently planned to begin patient dosing in Q1 2006. About ADVENTRX ADVENTRX Pharmaceuticals is a biopharmaceutical research and development company focused on introducing new technologies for anticancer and antiviral treatments that surpass the performance and safety of existing drugs, by addressing significant problems such as drug metabolism, toxicity, bioavailability and resistance. More information can be found on the Company's Web site at http://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, regarding ADVENTRX. 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 FDA 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 regarding ADVENTRX, see the section titled "Risk Factors" in ADVENTRX's last quarterly report on Form 10-Q, as well as other reports that ADVENTRX files from time to time with the Securities and Exchange Commission. All forward-looking statements regarding ADVENTRX are qualified in their entirety by this cautionary statement. ADVENTRX undertakes no obligation to release publicly any revisions, which may be made to reflect events or circumstances after the date hereof. DATASOURCE: ADVENTRX Pharmaceuticals, Inc. CONTACT: Andrea Lynn of ADVENTRX Pharmaceuticals, Inc., +1-858-552-0866 Web site: http://www.adventrx.com/ http://www.bio.org/ Company News On-Call: http://www.prnewswire.com/comp/920134.html

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