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Access Pharmaceuticals Announces Restructuring of Outstanding Senior Convertible Note
Date:7/13/2011

DALLAS and NEW YORK, July 13, 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 signed an agreement to restructure the outstanding senior convertible promissory note scheduled to mature this year. The amended agreement provides for extension of 50% of the principal amount of the note until September 13, 2012. The restructured agreement provides for the acceleration of payments to the note holder in the event of a corporate licensing or partnering transaction.

"We appreciate the note holder's continued support of Access' programs," said Jeffrey B. Davis, President and CEO. "The extension of the note, combined with ongoing MuGard commercialization activities and business development efforts, provides additional flexibility with respect to our corporate strategy."

About MuGard:MuGard is a novel; ready-to-use mucoadhesive oral wound rinse and coating for the management of oral mucositis, a debilitating side effect of many anticancer treatments. Up to 40% of all patients receiving chemotherapy and radiotherapy develop moderate to severe mucositis, and almost all patients receiving radiotherapy for head and neck cancer and those undergoing stem cell transplantation develop mucositis. Updated clinical practice guidelines for the prevention and treatment of mucositis recommend the use of a preventive oral care regimen as part of routine supportive care along with a therapeutic oral care regimen if mucositis develops. The market for the treatment of oral mucositis is estimated to be in excess of $1 billion world-wide.  For more information, please visit '/>"/>

SOURCE Access Pharmaceuticals, Inc.
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