SAN DIEGO, Aug. 14, 2012 /PRNewswire/ -- ADVENTRX
Pharmaceuticals, Inc. (NYSE MKT: ANX) today announced that Santosh
J. Vetticaden, M.D., Ph.D., will join the Company as Chief Medical
Officer and Senior Vice President.
Dr. Vetticaden has more than 25 years of experience in drug
development and medicine. His experience spans a variety of
therapeutic areas, including anticoagulation, hemophilia,
anti-infectives and rheumatology/inflammation. He has
directed and managed the clinical development of both large and
small molecules, from protocol design to execution of multi-center,
global clinical trials.
Dr. Vetticaden has held several senior level positions leading
drug development across phase 1 through phase 4 trials at biotech
and large pharmaceutical companies. Most recently, he served
as Senior Vice President and Chief Medical and Development Officer
at Cubist Pharmaceuticals, Inc., where his tenure was highlighted
by successful phase 2 trials and advancing multiple drugs into
phase 3. At Cubist, he also played a significant role in the
development and execution of new business strategy that resulted in
significant product pipeline expansion. Prior to joining
Cubist, Dr. Vetticaden was Senior Vice President and Chief
Medical Officer at Maxygen, Inc., where he had responsibilities and
oversight for clinical development and regulatory affairs for all
of the company's development programs, including Maxy-VIIa, which
he progressed from the non-clinical stage through a phase 1 study
in hemophilia, resulting in its outlicense to Bayer. Before
Maxygen, he held senior roles in drug development at Scios, Inc., a
subsidiary of Johnson & Johnson, Aventis Pharmaceuticals (now
Sanofi) and the Whitehall-Robins Healthcare division of American
Home Products Corporation (now Pfizer). Dr. Vetticaden has a
Ph.D. in the areas of pharmacokinetics and pharmacodynamics from
Virginia Commonwealth University; a M.D
from the University of Maryland and
completed a residency in internal medicine at the Baylor College of
Medicine.
"I have been closely involved in the development and lifecycle
management of several transformative products, including Lovenox®,
Cubicin®, Xarelto®, and Natrecor®, and I look forward to playing a
key role in successful development of ANX-188, which has the
potential to treat many serious and life-threatening diseases and
conditions," said Dr. Vetticaden. "With the phase 3 study in sickle
cell disease anticipated to begin this year, joining ADVENTRX is an
opportunity to have a potentially transformational impact in the
treatment of diseases and conditions associated with microvascular
dysfunction."
"Dr. Vetticaden brings to ADVENTRX decades of drug development
and clinical experience as well as valuable clinical pharmacology
and translational expertise," stated Brian
M. Culley, Chief Executive Officer of ADVENTRX. "He has a
proven track record of advancing innovative therapies through all
stages of the product lifecycle and is a welcome addition to our
senior management team as we advance ANX-188 into a phase 3
study."
About ADVENTRX Pharmaceuticals
ADVENTRX Pharmaceuticals is a biopharmaceutical company
developing proprietary product candidates to treat various diseases
and conditions. The Company's lead product candidate, ANX-188, has
potential to reduce ischemic tissue injury and end-organ damage by
restoring microvascular function which is compromised in a
wide range of serious and life-threatening diseases and
conditions. The Company initially is developing ANX-188 as a
treatment for complications arising from sickle cell disease. 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 Dr.
Vetticaden's potential impact on the development of ANX-188, and
the Company's development plans for ANX-188, including the nature
and timing of future clinical studies. 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 delays
in the commencement or completion of planned clinical studies
including as a result of difficulties or delays in completing
manufacturing process development activities and manufacturing
clinical trial material or difficulties or delays in obtaining
regulatory agreement on clinical study design or meeting applicable
regulatory requirements for 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 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 potential for ADVENTRX to delay, reduce or
discontinue current and/or planned development activities,
including clinical studies, 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 risk that
the FDA does not grant marketing 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 preparation of regulatory submissions
related to product approval, and that such third parties may fail
to perform as expected; 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.
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SOURCE ADVENTRX Pharmaceuticals, Inc.