ANX Mast Therapeutics, Inc.

SAN DIEGO, March 20 /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 it has entered into an agreement with Pharmatek Laboratories, a pharmaceutical chemistry development organization, for the manufacturing of ANX-201 (Thiovir) capsules for clinical studies. "Pharmatek is an experienced contract manufacturer and we are confident in their ability to produce reliable cGMP material for our clinical trials," said Michele Yelmene, vice president of regulatory affairs. "The drug supply they generate under this contract is expected to provide the Company with inventory for our Phase 1/2 study in HIV, which we anticipate initiating later this year." ADVENTRX plans to file an investigational new drug application (IND) with the US Food and Drug Administration (FDA) in the second quarter of 2007, and pending appropriate clearances, to initiate in the third quarter of 2007 a Phase 1/2 clinical trial of ANX-201 as a component of multi-drug therapy for the treatment of HIV. About ANX-201 (Thiovir) ANX-201 is a member of a new class of reverse transcriptase inhibitor (RTI) designed for oral delivery as a component of AZT-based highly active antiretroviral therapy. ANX-201 is a pyrophosphate analog which delivers both thiophosphonoformate (TPFA) and phosphonoformate (PFA, foscarnet). The HIV resistance profile of ANX-201 and foscarnet is unique among RTIs reflecting the distinct mechanism of action of this novel drug class. 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, bioavailability, excessive toxicity and treatment resistance. The Company's lead product candidate, ANX-510 (CoFactor), is in Phase 3 and Phase 2b clinical trials for the treatment of metastatic colorectal cancer, as well as in a Phase 2 clinical trial for the treatment of advanced breast cancer. More information can be found on the Company's web site at http://www.adventrx.com/. About Pharmatek Laboratories, Inc. Pharmatek Laboratories Inc. is a pharmaceutical chemistry development company providing full-service product development for the pharmaceutical industry. Pharmatek focuses on bringing client compounds from discovery to the clinic with services that include compound selection, analytical development, preformulation testing, formulation development, GMP manufacturing, and stability storage and testing. More information can be found on the company's web site at http://www.pharmatek.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. Such forward-looking statements are made based on management's current expectations and beliefs and should not be regarded as a statement or representation by ADVENTRX that any of its plans, including its anticipated milestones, will be achieved on time or at all. The potential risks and uncertainties that could cause actual results to differ materially include, but are not limited to: Pharmatek's ability to comply with current good manufacturing practices or otherwise supply materials suitable for use in human clinical trials; Pharmatek's ability to supply materials in quantities and on timelines sufficient to meet ADVENTRX's needs; the risk that ADVENTRX will be unable to raise sufficient capital to fund the projects necessary to meet its anticipated or stated goals and milestones, including funding the continued development of ANX-201; the ability to timely receive necessary regulatory approvals for ADVENTRX's current and anticipated clinical trials, including the currently planned Phase 1/2 clinical trial of ANX-201; the risk that preclinical and clinical results are not indicative of the success of subsequent clinical trials and that products will not perform as preclinical and clinical data suggests or as otherwise anticipated; and other risks and uncertainties more fully described in ADVENTRX's press releases and periodic filings with the Securities and Exchange Commission. ADVENTRX's public filings with the Securities and Exchange Commission are available at http://www.sec.gov/. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date when made. All forward-looking statements are qualified in their entirety by this cautionary statement and ADVENTRX assumes no obligation to revise or 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, Inc., +1-858-552-0866; or Media, Amy Martini of WeissComm Partners, +1-212-301-7223, for ADVENTRX Pharmaceuticals, Inc. Web site: http://www.pharmatek.com/ Web site: http://www.adventrx.com/ Company News On-Call: http://www.prnewswire.com/gh/cnoc/comp/920134.html

Copyright