ADVENTRX Pharmaceuticals Elects New Member to the Board Of Directors
February 17 2004 - 10:30AM
PR Newswire (US)
ADVENTRX Pharmaceuticals Elects New Member to the Board Of
Directors SAN DIEGO, Feb. 17 /PRNewswire-FirstCall/ -- ADVENTRX
Pharmaceuticals (BULLETIN BOARD: AVRX) announced today that Mark
Bagnall has accepted an invitation to join the Board of Directors.
"We are very pleased to welcome Mr. Bagnall to our Board of
Directors," said Nicholas Jon Virca, President & Chief
Executive Officer of ADVENTRX. "Mr. Bagnall's background includes
broad experience in life science mergers and acquisitions as well
as significant accomplishments in equity and debt financings within
the biotechnology industry. We are confident that his participation
on our Board will assist us greatly in further refining our
business and financial strategies." Mr. Bagnall currently serves as
Senior Vice President and Chief Business Officer of Metabolex, Inc.
Metabolex is a privately-held pharmaceutical company focused on the
development of drugs to treat diabetes and related metabolic
disorders. Mr. Bagnall has been in thebiotechnology industry for
over 15 years. In the 12 years prior to joining Metabolex, Mr.
Bagnall held the top financial position at four life science
companies: Metrika, Inc., a privately-held diagnostics company, and
three public biotechnology companies, Progenitor, Inc., Somatix
Therapy Corporation, and Hana Biologics, Inc. During his career in
biotechnology, he has managed several private and public
financings, merger and acquisition transactions and corporate
licensing agreements. Mr. Bagnall received his Bachelor of Science
degree in Business Administration from the U.C. Berkeley Business
School and is a Certified Public Accountant. As an independent
member of the Board of Directors, Mr. Bagnall will enhance the
corporate governance infrastructure of ADVENTRX. ADVENTRX ADVENTRX
Pharmaceuticals Inc. is a biopharmaceutical research and
development company whose business strategy is to commercialize
leading edge medical research through licensing agreements with
prominent universities and research institutions. The Company
focuses its energy in cancer and antiviral research to launch
products that either extend the usefulness of current therapies or
replace marginal therapies with new approaches to treatment. This
press release containsforward-looking statements within the meaning
of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Such statements are made based on
management's current expectations and beliefs. Actual results may
vary from those currently anticipated based upon a number of
factors, including uncertainties inherent in the drug development
process, the timing and success of clinical trials, the validity of
research results, and the receipt of necessary approvals from the
United States Food and Drug Administration. All information in this
press release is as of the date set forth above. The Company
undertakes no duty to update any forward-looking statement in this
press release to conform such statement to actual results or
changes in the Company's expectations. Contact: The Ruth Group
Investors: Stephanie Carrington 646-536-7017 Media: Cynthia Isaac,
Ph.D. 646-536-7028 DATASOURCE: ADVENTRX Pharmaceuticals CONTACT:
Investors - Stephanie Carrington, +1-646-536-7017, Media - Cynthia
Isaac, Ph.D., +1-646-536-7028, both of The Ruth Group, for ADVENTRX
Pharmaceuticals Inc.
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