SAN DIEGO, July 25, 2011 /PRNewswire/ -- ADVENTRX
Pharmaceuticals, Inc. (NYSE Amex: ANX) today announced the
appointment of Gregory D. Gorgas as Senior Vice President,
Commercial.
Mr. Gorgas brings more than 25 years of experience in drug
product commercialization, with an emphasis in launching new
products, building commercial infrastructure and leading start-up
operations. He was a key contributor to the blockbuster
success of Rituxan® while at Biogen Idec, where most recently he
led global marketing for the oncology franchise.
"After consulting with ADVENTRX for over 18 months, I have deep
familiarity with the company and its product candidates and believe
in the promise and commercial potential of Exelbine," said Mr.
Gorgas. "I'm thrilled to join the ADVENTRX team and look forward to
making Exelbine available to patients, should it be approved."
"Greg's first-hand experience successfully launching four
first-in-class products and strong relationships in the oncology
community make him a great addition to our team. Importantly,
his understanding of the multi-source marketplace will prove
valuable as we continue to prepare for the launch of Exelbine,"
said Brian M. Culley, Chief
Executive Officer of ADVENTRX.
About ADVENTRX Pharmaceuticals
ADVENTRX Pharmaceuticals is a specialty pharmaceutical company
focused on acquiring, developing and commercializing proprietary
product candidates. The Company's current lead product
candidates are Exelbine and ANX-514, novel emulsion formulations of
currently marketed chemotherapy drugs, and ANX-188, a novel,
purified, rheologic and antithrombotic compound initially being
developed as a first-in-class treatment for pediatric patients with
sickle cell disease in acute crisis. More information can be
found on the Company's web site at www.adventrx.com.
Forward Looking Statements
ADVENTRX cautions you that statements included in this press
release that are not a description of historical facts are
forward-looking statements that are based on ADVENTRX's current
expectations and assumptions. Such forward-looking statements
include, but are not limited to, statements regarding the potential
for receipt of and timing regarding FDA approval to market Exelbine
and the commercial potential of Exelbine. Actual events or results
may differ materially from those expressed or implied by the
forward-looking statements in this press release due to a number of
risks and uncertainties, including, without limitation: the risk
that ADVENTRX does not receive FDA approval of Exelbine on a timely
basis, or at all; the potential for the FDA to determine that the
bioequivalence data and other information included in the Exelbine
NDA does not adequately support bioequivalence with Navelbine®,
including as a result of performing pharmacokinetic equivalence
analyses based on a patient population other than the population on
which ADVENTRX based its analysis; the potential for the FDA to
impose other requirements to be completed before or after approval
of the Exelbine NDA, including that the FDA may require ADVENTRX to
perform additional nonclinical, bioequivalence or clinical studies;
difficulties or delays in manufacturing Exelbine at commercial
scale, if approved, including validating commercial manufacturing
processes and manufacturers, as well as other suppliers, and the
risk of supply shortages; difficulties or delays in marketing
Exelbine, if approved, including developing or acquiring additional
marketing, sales and distribution capabilities; the risk that
Exelbine, if approved, does not achieve broad market acceptance,
including as a result of limited differentiation (or ability to
promote differentiation) from Navelbine and its generic
equivalents; the risk that Exelbine cannot be priced at levels that
exceed its fully-burdened manufacturing cost or that provide a
reasonable return on investment to ADVENTRX; the risk that any
patent issued to ADVENTRX may not provide sufficient protection and
market exclusivity for Exelbine and may be challenged, invalidated,
infringed or circumvented by third parties, including by ADVENTRX's
competitors; ADVENTRX's dependence on the success of Exelbine as
its first product candidate to be submitted for regulatory
approval; 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
www.sec.gov.
You are cautioned not to place undue reliance on forward-looking
statements, which speak only as of the date when made. ADVENTRX
does not intend to revise or update any forward-looking statement
set forth in this press release to reflect events or circumstances
arising after the date hereof, except as may be required by
law.
SOURCE ADVENTRX Pharmaceuticals, Inc.