ANX Mast Therapeutics, Inc.

SAN DIEGO, June 12 /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 Jack Lief, president and chief executive officer, and a founder and director of Arena Pharmaceuticals, Inc. (NASDAQ:ARNA), was named Chairman of ADVENTRX. "I'm very pleased to accept the position as Chairman of ADVENTRX. I hope my knowledge and experience continues to prove valuable as ADVENTRX progresses with its Phase 3 clinical trial of ANX-510 and as the company continues to move other product candidates into the clinic that also hold significant potential to provide patients better treatment options," commented Jack Lief, president and CEO of Arena. Mr. Lief joined ADVENTRX's board of directors in September 2006 and also serves on the board of directors of Accumetrics, Inc., a developer and marketer of diagnostic tests, ReqMed Company, Ltd., a provider of partnering opportunities, R&D strategies and bio-venture funding, and TaiGen Biotechnology Co., Ltd., a biotechnology company. In addition, Mr. Lief is an executive board member for BIOCOM, a life science industry association representing more than 450 member companies in San Diego and Southern California, and from March 2005 to March 2006, served as chairman of BIOCOM. 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. 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 and assumptions that, if they materialize or do not 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. These risks and uncertainties include, but are not limited to: the risk that directors will undertake projects that divert their respective attention from ADVENTRX matters, or that may pose a conflict of interest with ADVENTRX; ADVENTRX's ability to raise sufficient capital to fund the projects necessary to meet its anticipated or stated goals; the ability to timely enroll subjects in ADVENTRX's current and anticipated clinical trials; the results of pending clinical trials for CoFactor(R) or ADVENTRX's other product candidates; the potential for CoFactor(R) and ADVENTRX's other product candidates to receive regulatory approval for one or more indications, and the uncertain process of seeking regulatory approval; other difficulties or delays in developing, testing, manufacturing and marketing and obtaining regulatory approval for CoFactor(R) and ADVENTRX's other product candidates; unexpected adverse side effects or inadequate therapeutic efficacy of CoFactor(R) or ADVENTRX's other products; 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, +1-858-552-0866 Web site: http://www.adventrx.com/ Company News On-Call: http://www.prnewswire.com/comp/920134.html

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