SAN DIEGO, July 25, 2011 /PRNewswire via COMTEX/ --
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.