SAN DIEGO, Feb. 26, 2013 /PRNewswire/ -- ADVENTRX Pharmaceuticals, Inc. (NYSE MKT: ANX) today reviewed the platform of data and know-how that supports development of ANX-188 in multiple indications, including those outside of sickle cell disease. This platform has been derived from over 100 pharmacology studies, more than 15 clinical studies in multiple indications in which over 2,500 subjects have been exposed to both purified and non-purified poloxamer 188, and over two decades of experience manufacturing and purifying poloxamers. (Logo: http://photos.prnewswire.com/prnh/20120612/LA22456LOGO-a) Brian M. Culley, Chief Executive Officer, said: "Since acquiring SynthRx, we have come to appreciate the extent of the data supporting the development of ANX-188 not just in sickle cell disease, but in any indication where improving microcirculatory insufficiency is central to improving clinical outcomes. The breadth and depth of these data can be characterized as a 'platform,' which we refer to as the Molecular Adhesion and Sealant Technology, or MAST, platform. We plan to leverage the knowledge and know-how that is the MAST platform to advance ANX-188 in multiple indications, and will announce development plans outside of sickle cell disease later this quarter." R. Martin Emanuele, Ph.D, Senior Vice President, Development, said: "In addition to initiating EPIC, our pivotal phase 3 study in sickle cell disease, we have analyzed the impressive body of data that supports development of ANX-188 in a broader range of diseases and conditions. ANX-188 adheres specifically to hydrophobic surfaces characteristic of damaged cells in the circulation, effectively 'sealing' the damaged area and, as a result, minimizing or preventing other hydrophobic adhesive interactions and providing time for natural repair mechanisms to restore normal functioning. Meanwhile, because pathological hydrophobic domains are not characteristically present in a healthy circulation, ANX-188 has no clinically significant activity in healthy circulatory tissue. While this mechanism specifically targets hydrophobic domains, these domains can be widespread in sick or injured patients. This 'broadly targeted' activity gives ANX-188 potential to address multiple pathophysiological processes in complex indications relative to drugs based on specific receptor/ligand interactions." Santosh Vetticaden, Chief Medical Officer, said: "Proof-of-concept in experimental models has been demonstrated with the active ingredient in ANX-188 in a wide range of diseases, such as arterial disease, stroke, shock and heart failure. As we advance ANX-188 into new indications, we intend to leverage already completed IND-enabling toxicology studies, phase 1 safety studies and the other activities that consume so much time and money in drug development. With clinical trial material already in-hand, we expect to move ANX-188 directly into phase 2 studies and generate clinical proof-of-concept data in new indications in relatively short time frames with relatively modest investment."
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.