Navigation Links
ADVENTRX Creates Executive Vice President Position and Announces New Chief Financial Officer
Date:4/3/2008

SAN DIEGO, April 3, 2008 /PRNewswire-FirstCall/ -- ADVENTRX Pharmaceuticals, Inc. (Amex: ANX) announced today that Mark Bagnall, a member of the Company's Board of Directors, has joined the Company as Executive Vice President, a newly created position, and Chief Financial Officer. As Executive Vice President, Mr. Bagnall will work with the Company's Chief Executive Officer and President to define the Company's long-term strategy, help oversee internal execution of that strategy and communicate with the Company's stakeholders.

Mr. Bagnall will continue as a member of the Company's Board of Directors, but has resigned his positions on the Company's Audit, Compensation and Nominating & Governance Committees, as well as his position as Chair of the Audit Committee. Jack Lief, currently Chair of the Board of Directors, will increase his involvement with the Company and assume Mr. Bagnall's responsibilities as Chair of the Audit Committee.

The Company also announced that Gregory P. Hanson's employment relationship with the Company ended, effective April 2, 2008. Mr. Hanson joined the Company in December 2006 and previously served as the company's Chief Financial Officer.

"Mark is a proven biotechnology executive and we welcome him to our team," stated Evan M. Levine, Chief Executive Officer and President of ADVENTRX. "His expertise in the public and private sector, as well as his unique perspective as a long-time Board member, will prove invaluable as we advance our product candidates towards commercialization. In addition, we thank Greg for his service to the company, and wish him success in the future."

"This is a great time to be joining the ADVENTRX management team," stated Mr. Bagnall. "The company has made tremendous progress with its novel emulsion formulations of vinorelbine and docetaxel. I look forward to the continued development and anticipated commercialization of these product candidates, as well as the continued development of CoFactor, if the data sets expected this quarter are positive. I am excited to contribute my experience to the collective efforts required to transition ADVENTRX to its next stage of growth as a commercial stage biopharmaceutical company."

Mr. Bagnall has held senior management positions in the biotechnology industry for 20 years and has been a director of ADVENTRX since 2004. During his time in the industry he has held positions in both finance and business development and has managed equity and debt financings, corporate partnering and licensing deals and M&A transactions. He is a director of two other publicly held biotechnology companies, VIA Pharmaceuticals, Inc., a biotechnology company focused on the development of compounds for the treatment of cardiovascular disease, and Forticell Bioscience, Inc. (formerly Ortec International, Inc.), a biotechnology company focusing on advanced regenerative medicine and stem cell therapy. Mr. Bagnall most recently served as senior vice president and chief finance and operations officer of Metabolex, Inc., a biotechnology company developing therapeutics for diabetes and related metabolic disorders, positions he had held since June 2000. 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. In addition he is a co-founder and director of the Association of Bioscience Financial Officers, an international organization of life science CFOs.

Mr. Bagnall received his B.S. in Business Administration from the University of California at Berkeley, Haas School of Business, and is a Certified Public Accountant.

About ADVENTRX Pharmaceuticals

ADVENTRX Pharmaceuticals is a biopharmaceutical company focused on in-licensing, developing and commercializing proprietary product candidates primarily for the treatment of cancer and infectious disease. The Company seeks to improve the performance and commercial potential of existing treatments by addressing limitations associated with these treatment regimens. More information can be found on the Company's web site at http://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 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. These risks and uncertainties include, but are not limited to: successfully educating new executives and integrating new executives with existing executives and management; the risk that directors will undertake projects that divert their respective attention from ADVENTRX matters, or that may pose a conflict of interest with ADVENTRX; ADVENTRX's ability to raise sufficient capital to fund the projects necessary to meet its anticipated or stated goals; the results of pending clinical trials for ADVENTRX's product candidates, including the registrational bioequivalence clinical trial of ANX-514; the potential for ADVENTRX's product candidates to receive regulatory approval for one or more indications, and the uncertain process of seeking regulatory approval; other difficulties or delays in developing, testing, manufacturing and marketing and obtaining regulatory approval for ADVENTRX's product candidates; unexpected adverse side effects or inadequate therapeutic efficacy of ADVENTRX's product candidates; 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 http://www.sec.gov.

You are cautioned not to place undue reliance on these 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 on which it was made.


'/>"/>
SOURCE ADVENTRX Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. ADVENTRX Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2007 Financial Results
2. ADVENTRX Pharmaceuticals to Report Fourth Quarter and Year End 2007 Results
3. Eric K. Rowinsky Joins ADVENTRX Board of Directors
4. ADVENTRX to Present Complete ANX-530 Pharmacokinetic Data at the 2008 American Association for Cancer Research Annual Meeting
5. ADVENTRX Announces Consolidation of Clinical and Management Positions
6. ADVENTRX Pharmaceuticals Reports Third Quarter 2007 Financial Results
7. ADVENTRX Appoints Vice President of Commercialization
8. ADVENTRX Pharmaceuticals to Present at the 2007 BIOInvestor Forum
9. ADVENTRX to Present ANX-514 Preclinical Data at 2007 AACR-NCI-EORTC International Conference
10. ADVENTRX Pharmaceuticals to Present at the 2007 UBS Global Life Sciences Conference
11. ADVENTRX Pharmaceuticals to Present at the ThinkEquity Partners Fifth Annual Growth Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... June 27, 2016 , ... Parallel 6 , ... announced today the Clinical Reach Virtual Patient Encounter CONSULT module which enables ... the physician and clinical trial team. , Using the CONSULT module, patients and physicians ...
(Date:6/27/2016)... June 27, 2016   Ginkgo Bioworks , a ... engineering, was today awarded as one of the ... the world,s most innovative companies. Ginkgo Bioworks is ... the real world in the nutrition, health and ... directly with customers including Fortune 500 companies to ...
(Date:6/24/2016)... Raleigh, NC (PRWEB) , ... June 24, 2016 , ... ... find the most commonly-identified miRNAs in people with peritoneal or pleural mesothelioma. Their findings ... here to read it now. , Diagnostic biomarkers are signposts in the blood, ...
(Date:6/23/2016)... - FACIT has announced the creation of a ... Propellon Therapeutics Inc. ("Propellon" or "the Company"), to ... of first-in-class WDR5 inhibitors for the treatment of ... an exciting class of therapies, possessing the potential ... patients. Substantial advances have been achieved with the ...
Breaking Biology Technology:
(Date:4/28/2016)... BANGALORE, India , April 28, 2016 ... subsidiary of Infosys (NYSE: INFY ), and Samsung ... global partnership that will provide end customers with a ... and payment services.      (Logo: http://photos.prnewswire.com/prnh/20130122/589162 ... for financial services, but it also plays a fundamental part ...
(Date:4/19/2016)... , UAE, April 20, 2016 ... implemented as a compact web-based "all-in-one" system solution for ... biometric fingerprint reader or the door interface with integration ... modern access control systems. The minimal dimensions of the ... readers into the building installations offer considerable freedom of ...
(Date:4/13/2016)... physicians supporting Medicaid patients in Central Florida ... telehealth thanks to a new partnership with higi.   ... can routinely track key health measurements, such as blood ... they opt in, share them with IMPOWER clinicians through ... location at no cost. By leveraging this data, IMPOWER ...
Breaking Biology News(10 mins):