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."
Shares of ADVENTRX Pharmaceuticals (AMEX:ANX) were gapping down Friday morning with an open price 21.5% lower than Thursday's closing price. The stock closed at 93 cents yesterday and opened today's trading at 73 cents.