Navigation Links
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 www.MuGard.com.

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.Contact: Company

Contact: Investor RelationsChristine Berni

Donald C. Weinberger/Diana Bittner (media)Director 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. SurgiQuest, Inc. Secures $19 Million to Fund Commercialization and Launch the Next Generation Access Technology Cited by Surgeons as The Future of Minimally Invasive Surgery
2. Medicares Audit Process Hampers Access to At-Home Care
3. Pharmacy Choice and Access Now Coalition Applauds Passage of Senate Bill 7 During Texas Legislatures Special Session
4. At-Home Care Businesses Urge President Obama to Repeal Medicare Program that Cuts Access to Homecare
5. Express Scripts Strives to Make Prescription Drugs Affordable and Accessible to American Families
6. Access Pharmaceuticals Receives Letter of Acceptance For MuGard Filing From SFDA of China
7. Vertex Plans to Provide Access to Potential CF Therapy VX-770 for Patients with Critical Medical Need
8. Edison Pharmaceuticals to Provide Expanded Access to EPI-743 for Mitochondrial Disease
9. Pharmacy Choice and Access Now Coalition Urges Passage of Senate Bill 7 During Texas Legislatures Special Session
10. NCPA Urges Congress to Preserve Seniors Access to Diabetes Supplies at Independent Community Pharmacies; Back Schock-Welch Bill
11. Access Pharmaceuticals Retains eMAX Health to Expand MuGard Distribution Network and Supplement Payer Outreach Programs
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... , Oct. 12, 2017   Divoti USA ... up to the standard of the latest FDA requirements, which stipulates ... Anyone in need of Medical ID jewelry such as ... Jewelry are engraved in terms of the new FDA ... Divoti offers this ...
(Date:10/11/2017)... Texas , Oct. 11, 2017  True ... services, has amplified its effort during National Breast ... about hereditary cancer risks. ... of Clinical Oncology calculated that more than 10 ... have inherited mutations in BRCA1 or BRCA2 and have ...
(Date:10/7/2017)... Texas , Oct. 6, 2017   Provista, ... with more than $100 billion in purchasing power, today ... news and information. The Newsroom is the ... and industry trends, infographics, expert bios, news releases, slideshows ... having access to a wealth of resources at their ...
Breaking Medicine Technology:
(Date:10/13/2017)... , ... October 13, 2017 , ... The American Board ... become its next President and Chief Executive Officer, succeeding Dr. James C. Puffer upon ... beginning July 1, 2018 until Dr. Puffer’s retirement at the end of 2018. Upon ...
(Date:10/13/2017)... ... October 13, 2017 , ... ... PharmD ‘17, and Jennifer Huggins, PharmD ’17, along with clinical associate professor ... prevention of cardiovascular diseases during the 15th Annual Women’s Health Conference. The ...
(Date:10/13/2017)... ... 13, 2017 , ... Many families have long-term insurance that covers care for ... a waiver for care if the client has a cognitive impairment diagnosis. , ... care, is often waived, so the benefits from their insurance start immediately,” said Mechell ...
(Date:10/13/2017)... ... 2017 , ... Global Healthcare Management’s 4th Annual Kids Fun Run brought out ... free event, sponsored by Global Healthcare Management’s CEO, Jon Letko, is aimed at getting ... children of all ages; it is a non-competitive, non-timed event, which is all about ...
(Date:10/13/2017)... ... 13, 2017 , ... Coveros, a leader in agile coaching ... contract by the Center for Medicare and Medicaid Services (CMS). The Enterprise Agile ... of Agile methodologies in a consistent and high value manner across CMS programs. ...
Breaking Medicine News(10 mins):