ADVENTRX and TRx Pharma Announce Zanaflu(R) Registered as the Brand Name for ANX-211 (Chitosan Gel)
March 26 2007 - 7:00AM
PR Newswire (US)
- Launch Planned For 2007 Cold and Flu Season - SAN DIEGO and
CHAPEL HILL, North Carolina, March 26 /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, and TRx Pharma today announced that Zanaflu(R)
has been registered as the brand name for ANX- 211 (chitosan gel),
a new product for the common cold and influenza. TRx Pharma plans
to launch Zanaflu for the 2007 cold and influenza season. "Since
acquiring the U.S. rights to chitosan gel from ADVENTRX in October
of 2006, TRx Pharma has moved quickly to ensure an effective launch
for the product this year," said Brian M. Culley, Chief Business
Officer of ADVENTRX. "Drawing on their experience from launching
multiple products, TRx Pharma is an ideal partner to fully maximize
the potential of Zanaflu." Under the licensing terms for Zanaflu,
ADVENTRX received the first $500,000 installment of the license fee
in January of 2007. A second installment of $500,000 is expected in
June 2007. The Company will receive additional payments upon launch
of the first licensed product, in addition to double-digit
royalties on all future sales by TRx Pharma and its affiliates.
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 TRx Pharma
LLC TRx Pharma LLC is a specialty pharmaceutical company focused on
developing and commercializing therapies that will make a
difference. Through its focus on providing value within the
healthcare community, TRx Pharma is committed to enhancing the
quality of life for patients and all consumers of pharmaceutical
therapies. This vision is executed through in-licensing and
out-licensing of breakthrough technologies, unique therapeutic
approaches, and innovative pharmaceutical products. To achieve this
strategy, TRx Pharma looks to partner with strategically aligned
corporate partners as well as internally developed commercial
affiliates. More information can be found on the Company's web site
at http://www.trxpharma.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: the ability of TRx to successfully launch Zanaflu(R) in time
for the 2007 cold and flu season, including TRx's ability to obtain
supplies in quantities and on timelines sufficient to meet TRx's
needs; Zanaflu's(R) compliance with the OTC monograph and other
applicable regulations; the ability of Zanaflu(R) to achieve market
acceptance or to complete on the basis of price, quality of product
or consumer awareness and perception; failure of TRx to devote
sufficient time and resources to sales of Zanaflu(R), or
substandard performance by TRx; 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: Investor Contact: Ioana C. Hone of
ADVENTRX Pharmaceuticals, +1-858-552-0866; Media Contact: Amy
Martini of WeissComm Partners, +1-212-301-7223, for ADVENTRX
Pharmaceuticals, Inc. Web site: http://www.adventrx.com/
http://www.trxpharma.com/ Company News On-Call:
http://www.prnewswire.com/comp/920134.html
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