ADVENTRX Announces M. Ross Johnson to Retire as Board Chairman
March 06 2007 - 6:00AM
PR Newswire (US)
SAN DIEGO, March 6 /PRNewswire-FirstCall/ -- ADVENTRX
Pharmaceuticals, Inc. (AMEX:ANX), a biopharmaceutical research and
development company focused on commercializing proprietary product
candidates for the treatment of cancer and infectious diseases,
today announced that M. Ross Johnson, Ph.D., will retire as
Chairman of the Board of Directors effective as of the Company's
2007 Annual Meeting of Stockholders. Dr. Johnson has served as
Chairman since October 2002 and will retire to attend to personal
health matters. The Company anticipates announcing a succession
plan following the next scheduled Board of Directors meeting in May
2007. "Since becoming Chairman in 2002, Dr. Johnson oversaw the
transformation of ADVENTRX into an integrated biopharmaceutical
company with several products in the clinic," said Evan M. Levine,
Chief Executive Officer of ADVENTRX. "His leadership, deep
expertise and success in drug discovery and development have proved
extremely valuable as the company has advanced its reduced-risk
business model with the goal of bringing much needed therapies to
patients. We thank Dr. Johnson for his many contributions and wish
him the best in his retirement." "It has been a privilege for me to
serve the Company and its stockholders as Chairman," said Dr.
Johnson. "This is an exciting time for the Company and I leave
behind an excellent staff and Board who will make our goals a
reality. My time with ADVENTRX has been extremely rewarding and I
believe strongly in the company's mission, products, technology and
people. I wish the Company all the best." Dr. Johnson is Co-Founder
of Parion Sciences, Inc. and was previously President, Chief
Executive Officer and Chief Scientific Officer of Trimeris, Inc. He
also served in senior research and development positions at Glaxo
Inc. and Pfizer Inc. Dr. Johnson is internationally recognized for
his discovery of nonclassical cannabinoid analgetics
(levonantradol/CP-55,940) and his extensive research resulting in
the medicinal chemical conceptualization, biochemical
characterization, and the neuroanatomical localization of the
cannabinoid receptor. He is also a discoverer of the ultra short
acting analgetic/anesthetic remifentanil (ULTIVA(R)), the oral
antidiabetic englitazone, the prostaglandin analog sulprostone
(Nalador(R)), the use of viral membrane fusion inhibitors such as
enfuvirtide (Fuzeon(R)) in combination with other retrovirals in
the treatment of HIV infection, and the recent discovery of novel
sodium channel blockers such as Parion Sciences 552 for the
treatment of cystic fibrosis and chronic bronchitis. His extensive
background in drug discovery and development has resulted in over
300 scientific publications, patents, and invited presentations
which include 106 issued U. S. Patents. About ADVENTRX
Pharmaceuticals ADVENTRX Pharmaceuticals is a biopharmaceutical
research and development company focused on commercializing
proprietary product candidates for the treatment of cancer and
infectious diseases. The Company seeks to improve the performance
and safety of existing treatments by addressing significant
problems, such as drug metabolism and bioavailability, excessive
toxicity and treatment resistance. The Company's lead product
candidate, CoFactor (ANX-510), currently is being tested in a
pivotal Phase III study for metastatic colorectal cancer in the US.
More information can be found on the Company's web site at
http://www.adventrx.com/. Forward Looking Statement ADVENTRX
cautions you that statements included in this press release that
are not a description of historical facts are forward-looking
statements that involve risks, uncertainties, assumptions and other
factors that, if they do not materialize or prove to be accurate,
could cause ADVENTRX's results to differ materially from historical
results or those expressed or implied by such forward-looking
statements. The potential risks and uncertainties that could cause
actual results to differ materially include, but are not limited
to: uncertainties inherent in the drug development process; the
timing and success of clinical trials; the validity of research
results; the receipt of necessary approvals from the FDA and other
regulatory agencies; and other risks and uncertainties more fully
described in ADVENTRX's press releases and public filings with the
Securities and Exchange Commission. ADVENTRX's public filings with
the Securities and Exchange Commission are available at
http://www.sec.gov/. ADVENTRX does not intend to update any
forward-looking statement, including as set forth in this press
release, to reflect events or circumstances arising after the date
on which it was made. DATASOURCE: ADVENTRX Pharmaceuticals, Inc.
CONTACT: Investors, Ioana C. Hone of ADVENTRX Pharmaceuticals,
+1-858-552-0866; or Media, Amy Martini of WeissComm Partners,
+1-212-301-7223, for ADVENTRX Pharmaceuticals Web site:
http://www.adventrx.com/
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