ADVENTRX Creates Executive Vice President Position and Announces New Chief Financi... ( SAN DIEGO April 3 2008 /- ADVENTR...)

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 treme
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ADVENTRX Creates Executive Vice President Position and Announces New Chief Financi...( SAN DIEGO April 3 2008 /- ADVENTR...)