Navigation Links
ADVENTRX Settles Dispute With Former Licensee
Date:6/30/2008

SAN DIEGO, June 30 /PRNewswire-FirstCall/ -- ADVENTRX Pharmaceuticals, Inc. (Amex: ANX) today announced that it settled its dispute with Theragenex, LLC and its Chairman and President and Chief Executive Officer for payments aggregating $600,000, which payments the Company has received in full. The parties have agreed to jointly move to dismiss the underlying arbitration action and all related claims and counterclaims, with prejudice. In addition, in connection with dismissing the arbitration, the Company and Theragenex will release each other from any and all claims related to their past relationship.

In October 2007, the Company filed a demand for arbitration against Theragenex (doing business as TRx Pharma, LLC and/or TRx Pharmaceuticals, LLC) and its founder, Chairman and President and Chief Executive Officer in his individual capacity as the alter ego of Theragenex, seeking damages of up to $10 million with respect to breach of a license agreement, dated October 20, 2006, between the Company and Theragenex. In November 2007, Theragenex responded to the Company's demand, asserting numerous affirmative defenses, counterclaiming intentional misrepresentation, negligent misrepresentation and rescission and seeking a refund of its initial $500,000 payment under the license agreement, plus interest, rescission of the license agreement and that the Company pay its reasonable attorneys' fees and costs associated with the action.

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 problems associated with these treatment regimens. More information can be found on ADVENTRX's web site at http://www.adventrx.com.


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

Related biology technology :

1. ADVENTRX Pharmaceuticals to Present at the Rodman & Renshaw 5th Annual Global Healthcare Conference
2. ADVENTRX Appoints Vice President of Manufacturing
3. ADVENTRX Creates Executive Vice President Position and Announces New Chief Financial Officer
4. ADVENTRX Pharmaceuticals, Inc. Reports Fourth Quarter and Full Year 2007 Financial Results
5. ADVENTRX Pharmaceuticals to Report Fourth Quarter and Year End 2007 Results
6. Eric K. Rowinsky Joins ADVENTRX Board of Directors
7. ADVENTRX to Present Complete ANX-530 Pharmacokinetic Data at the 2008 American Association for Cancer Research Annual Meeting
8. ADVENTRX Announces Consolidation of Clinical and Management Positions
9. ADVENTRX Pharmaceuticals Reports Third Quarter 2007 Financial Results
10. ADVENTRX Appoints Vice President of Commercialization
11. ADVENTRX Pharmaceuticals to Present at the 2007 BIOInvestor Forum
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/22/2017)... ... May 22, 2017 , ... Cancer ... exhibiting in booth B2 at the Association for Pathology Informatics Annual Summit ... In addition to demonstrating its Cancer Diagnostic Cockpit and Consultation Portal, Inspirata will ...
(Date:5/19/2017)... ... May 19, 2017 , ... In response to the strong base of ... Systems, Inc. announces the release of their Gait Trainer 3 with an Integrated Music ... biomedical system to aid in rehabilitating individuals with cerebral palsy, traumatic brain injury, stroke ...
(Date:5/18/2017)... ... May 18, 2017 , ... Lajollacooks4u ... Cooking Challenge is a two-hour team-building package designed for groups of 10-30 people. ... Jodi Abel, which include items, such as Blackened Shrimp with Edamame Salad, Pizza ...
(Date:5/18/2017)... ... May 17, 2017 , ... ... and further enhances its scientific power by providing investigators access to a ... agreed to join the scientific advisory board. “We are committed to offering ...
Breaking Biology Technology:
(Date:3/29/2017)... 2017  higi, the health IT company that operates ... America , today announced a Series B investment ... EveryMove. The new investment and acquisition accelerates higi,s strategy ... transform population health activities through the collection and workflow ... higi collects and secures data today on behalf of ...
(Date:3/27/2017)... , March 27, 2017  Catholic Health Services ... Management Systems Society (HIMSS) Analytics for achieving Stage ... Model sm . In addition, CHS previously earned ... hospitals using an electronic medical record (EMR). ... high level of EMR usage in an outpatient ...
(Date:3/24/2017)... DUBLIN , Mar 24, 2017 Research ... Vehicle Access System Market Analysis & Trends - Industry Forecast to ... ... poised to grow at a CAGR of around 15.1% over the ... This industry report analyzes the market estimates and forecasts for ...
Breaking Biology News(10 mins):