Navigation Links
Access Pharmaceuticals Announces Private Placement of $5.2 Million
Date:11/2/2011

DALLAS and NEW YORK, Nov. 2, 2011 /PRNewswire/ -- ACCESS PHARMACEUTICALS, INC. (OTCBB: ACCP), a biopharmaceutical company leveraging its proprietary drug-delivery platforms to develop treatments in areas of oncology, cancer supportive care and diabetes, announced that it has entered into definitive agreements for the purchase of $5.2 million of units, consisting of Access common stock and warrants in a private placement financing with a select group of institutional and accredited investors.  Each unit consists of the one share of common stock at $1.45 share price, with 50% warrant coverage with an exercise price of $1.67 per share and a term of two and half years and 50% warrant coverage with an exercise price of $2.00 per share and a term of five years.  The Company is required to file a resale registration statement within 30 days following the closing that covers the resale by the investors of the shares and the shares issuable upon exercise of the warrants. The transaction is expected to close on or about November 7, 2011, subject to the satisfaction of customary closing conditions.

"We believe this financing gives us the necessary resources to advance MuGard significantly in the United States and globally," said Jeffrey Davis, CEO of Access Pharmaceuticals, Inc.  He continued, "We appreciate the continued support of our investors."

Cowen and Company, LLC and Rodman & Renshaw LLC, a wholly-owned subsidiary of Rodman & Renshaw Capital Group, Inc., acted as the exclusive co-placement agents for the offering.

The securities issued in this private placement have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and were issued and sold in a private placement pursuant to Regulation D of the Securities Act.

About Access:Access Pharmaceuticals, Inc. is an emerging biopharmaceutical company that develops and commercializes proprietary products for the treatment and supportive care of cancer patients. Access' products include MuGard™ (www.MuGard.com), which has received FDA marketing clearance for the management of patients with mucositis, ProLindac™, a second generation DACH Platinum in Phase 2 clinical testing of patients with ovarian cancer, and Thiarabine™, a novel nucleoside analog that has demonstrated both pre-clinical and clinical activity in certain cancers; currently in a Phase 1/2a trial in hematological malignancies at M.D. Anderson Cancer Center in Houston, Texas.  

The company also has other advanced drug delivery technologies including CobaCyte™-mediated targeted delivery and CobOral-oral drug delivery, its proprietary nanopolymer delivery technology based on the natural vitamin B12 uptake mechanism.  For additional information on Access Pharmaceuticals, please visit our website at www.accesspharma.com.

This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, and that involve risks and uncertainties. These statements include those relating to: our cash burn rate, clinical trial plans and timelines and clinical results for ProLindac, MuGard, Thiarabine and Cobalamin and other product candidates, our ability to achieve clinical and commercial success and our ability to successfully develop marketed products. These statements are subject to numerous risks, including but not limited to Access' need to obtain additional financing in order to continue the clinical trial and operations and to the risks detailed in Access' Annual Reports on Form 10-K and other reports filed by Access with the Securities and Exchange Commission.Company and Media Contact:

Contact: Investor RelationsChristine Berni

Donald C. WeinbergerDirector of Investor Relations

Wolfe Axelrod Weinberger Assoc. LLCAccess Pharmaceuticals, Inc.

(212) 370-4500(212) 786-6208
'/>"/>

SOURCE Access Pharmaceuticals, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Prostate Cancer Roundtable Expresses Concern over Federal Recommendations Impeding Access to the PSA, a Key Cancer Screening Test
2. MEDfx Demonstrates Potential of Connected Healthcare by Enabling Military and Civilian Medical Professionals to Securely Access Records, Improve Care Coordination
3. Pharma Pricing and Reimbursement Outlook: Optimizing price and market access in a recessionary climate
4. FTC Study Finds that in FY 2011, Pharmaceutical Industry Continued to Make Numerous Business Deals that Delay Consumers Access to Lower-Cost Generic Drugs
5. Ericom AccessNow™ for Enterprise Portals - Secure, Portal-based, HTML5 Web Access to Windows Applications, Desktops and Services
6. PhotoMedex Increases Access to Care for Children in Recognition of World Psoriasis Day, Oct. 29
7. Varian Medical Systems Publishes First Sustainability Report Outlining Environmental, Charitable, Safety and Health Access Achievements
8. Disney World: Theme Park Accessibility Is Not an Option, Its a Necessity
9. Access Pharmaceuticals Updates MuGard Website with New Video Featuring Clinical Feedback and Manufacturing Footage
10. American Association for Homecare Calls on Joint Deficit Committee in Congress to Preserve Homecare Access for Millions of Americans
11. More Than Half of Massachusetts Parents Say Their Kids Have Access to Abusable Prescription Drugs in Their Homes
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/3/2016)... 4, 2016 Global Insulin ... profiling 09 key companies and supported with 272 ... in-depth study on the current state of the ... the industry including definitions, classifications, applications and industry ... provided for the international market including development history, ...
(Date:5/3/2016)... from Sino-German High-Tech Fund to further expand product development, strengthen its disease modeling capabilities and increase market presence. ... ... ... ... Sino-German High-Tech ...
(Date:5/3/2016)... 2016   BIOTRONIK , a leader in ... and Drug Administration (FDA) approval of Iperia ProMRI ... failure patients with access to diagnostic magnetic resonance ... monitoring with daily automatic transmission and closed loop ... response to physiological demands. ...
Breaking Medicine Technology:
(Date:5/6/2016)... ... May 06, 2016 , ... In honor of ... and corporate training, and the National Military Family Association, a nonprofit that works ... the second full-tuition scholarship recipient of 2016. , “Being awarded this scholarship ...
(Date:5/5/2016)... ... , ... TransWipe Volume 3 is a set of 30 professional transition animations ... between two video clips to instantly add a unique transition to any Final Cut ... and orientation options. TransWipe Volume 3 is a Final Cut Pro X exclusive plugin. ...
(Date:5/5/2016)... ... May 05, 2016 , ... The U.S. Food ... requiring e-cigarette manufacturers to submit their products through an arduous federal approval process. ... products that entered the market since February 15, 2007. That would essentially ban ...
(Date:5/5/2016)... SAN FRANCISCO (PRWEB) , ... May 05, 2016 ... ... in the Unites States to promise successful results with IVF and with egg ... Designed to deliver the most patient-centric and highest quality fertility care, Spring Fertility ...
(Date:5/5/2016)... Bremerton, WA (PRWEB) , ... May 05, 2016 , ... ... program serving the families of Bremerton, Port Orchard and communities west of Seattle. The ... Lowery, a 12 year local girl who died suddenly due to complications from the ...
Breaking Medicine News(10 mins):