SAN DIEGO, June 26, 2012 /PRNewswire/ -- ADVENTRX
Pharmaceuticals, Inc. (NYSE Amex: ANX) today announced that is has
entered into a multi-year agreement with Patheon Inc. under which
Patheon will formulate, fill and finish ANX-188 drug product for
use in clinical trials, including the phase 3 study of ANX-188 that
ADVENTRX plans to initiate this year.
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"This agreement is another step toward initiating the phase 3
study of ANX-188 in patients with sickle cell disease," said
Brian M. Culley, Chief Executive
Officer of ADVENTRX. "Patheon is a global contract manufacturer
that serves more than 300 customers, including many of the world's
largest pharmaceutical and biotechnology companies. I am confident
in their manufacturing expertise, experienced staff and world-class
facilities and pleased to partner with them for the manufacture of
ANX-188 clinical trial material."
About ADVENTRX Pharmaceuticals
ADVENTRX Pharmaceuticals is a biopharmaceutical company
focused on developing proprietary product candidates. The
Company's lead product candidate is ANX-188, a rheologic,
antithrombotic and cytoprotective agent that improves microvascular
blood flow and has potential application in treating a wide range
of diseases and conditions, such as complications arising from
sickle cell disease. More information can be found on the
Company's web site at www.adventrx.com.
About Patheon
Patheon is a leading global provider of contract dosage
form development and manufacturing services to the pharmaceutical
and biotechnology industries. Patheon provides fully integrated
contract manufacturing and development solutions to its customers,
from early development through to high-volume commercial
manufacturing and packaging.
Patheon's development and manufacturing capabilities cover
prescription (Rx) products in solid, softgel and liquid dosage
forms, as well as specialized capabilities in high-potency,
cephalosporin, controlled/sustained release and sterile
manufacturing, including aseptic filling and lyophilization.
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 ADVENTRX's
development plans for ANX-188, including the nature and timing of
future clinical studies, and Patheon's manufacturing capabilities
with regard to ANX-188. Among the factors that could cause or
contribute to material differences between ADVENTRX's actual
results and those indicated from the forward-looking statements are
risks and uncertainties inherent in ADVENTRX's business, including,
but not limited to: the potential for ADVENTRX to delay,
reduce or discontinue current and/or planned development
activities, partner its product candidates at inopportune times or
pursue less expensive but higher-risk development paths if it is
unable to raise sufficient additional capital as needed; ADVENTRX's
ability to obtain additional funding on a timely basis or on
acceptable terms, or at all; the potential for delays in the
commencement or completion of its planned clinical studies
including as a result of difficulties or delays in completing
manufacturing process development activities and manufacturing
clinical trial material; the risk of suspension or termination of a
clinical study including due to lack of adequate funding; the risk
that planned clinical studies of ADVENTRX's product candidates,
including ANX-188, are not successful and, even if they are
successful, that the FDA could determine they are not sufficient to
support an NDA for the product candidate; the risk that the FDA
does not grant market approval of ADVENTRX's product candidates,
including ANX-188, on a timely basis, or at all; ADVENTRX's
reliance on third parties to assist in the conduct of important
aspects of its product candidates' development programs, including
the manufacture of clinical trial material, the conduct of clinical
studies and regulatory submissions related to product approval, and
that such third parties may fail to perform as expected; the risk
that intellectual property protection ADVENTRX obtains with respect
to its product candidates, including ANX-188, is insufficient to
provide a competitive advantage; 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.