- Launch Planned For 2007 Cold and Flu Season -
SAN DIEGO and CHAPEL HILL, North Carolina, March 26
/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, and TRx Pharma today announced that Zanaflu(R) has
been registered as the brand name for ANX- 211 (chitosan gel), a new
product for the common cold and influenza. TRx Pharma plans to launch
Zanaflu for the 2007 cold and influenza season.
"Since acquiring the U.S. rights to chitosan gel from ADVENTRX in
October of 2006, TRx Pharma has moved quickly to ensure an effective launch
for the product this year," said Brian M. Culley, Chief Business Officer of
ADVENTRX. "Drawing on their experience from launching multiple products,
TRx Pharma is an ideal partner to fully maximize the potential of Zanaflu."
Under the licensing terms for Zanaflu, ADVENTRX received the first
$500,000 installment of the license fee in January of 2007. A second
installment of $500,000 is expected in June 2007. The Company will receive
additional payments upon launch of the first licensed product, in addition
to double-digit royalties on all future sales by TRx Pharma and its
affiliates.
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. The Company's lead product
candidate, ANX-510 (CoFactor), is in Phase 3 and Phase 2b clinical trials
for the treatment of metastatic colorectal cancer, as well as in a Phase 2
clinical trial for the treatment of advanced breast cancer. More
information can be found on the Company's web site at
http://www.adventrx.com.
About TRx Pharma LLC
TRx Pharma LLC is a specialty pharmaceutical company focused on
developing and commercializing therapies that will make a difference.
Through its focus on providing value within the healthcare community, TRx
Pharma is committed to enhancing the quality of life for patients and all
consumers of pharmaceutical therapies. This vision is executed through
in-licensing and out-licensing of breakthrough technologies, unique
therapeutic approaches, and innovative pharmaceutical products. To achieve
this strategy, TRx Pharma looks to partner with strategically aligned
corporate partners as well as internally developed commercial affiliates.
More information can be found on the Company's web site at
http://www.trxpharma.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, uncertainties, assumptions and other factors
that, if they do not materialize or 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. The potential
risks and uncertainties that could cause actual results to differ
materially include, but are not limited to: the ability of TRx to
successfully launch Zanaflu(R) in time for the 2007 cold and flu season,
including TRx's ability to obtain supplies in quantities and on timelines
sufficient to meet TRx's needs; Zanaflu's(R) compliance with the OTC
monograph and other applicable regulations; the ability of Zanaflu(R) to
achieve market acceptance or to complete on the basis of price, quality of
product or consumer awareness and perception; failure of TRx to devote
sufficient time and resources to sales of Zanaflu(R), or substandard
performance by TRx; 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.
SOURCE ADVENTRX Pharmaceuticals, Inc.
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Related links:
http://www.adventrx.com
http://www.trxpharma.com
http://www.prnewswire.com/comp/920134.html /
CONTACT:
Investor Contact: Ioana C. Hone of ADVENTRX
Pharmaceuticals, +1-858-552-0866; Media Contact: Amy Martini of
WeissComm Partners, +1-212-301-7223, for ADVENTRX
Pharmaceuticals, Inc.
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