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:4/20/2017)... PARIS , April 20, 2017 ... EyeCET platform, the first non-viral gene expression technology that ... in the eye to address a wide range of ... UK Medicines and Healthcare products Regulatory Agency (MHRA) to ... ...
(Date:4/19/2017)... -- Cardiology devices segment is anticipated to reach the highest ... Devices segment is likely to create absolute $ opportunity of ... 2017. By the end of 2027, Cardiology Devices segment is ... Mn, expanding at a CAGR of 18.4% over the forecast ... Pacific reprocessed medical devices market in terms of ...
(Date:4/19/2017)... 2017 Global Prostate Cancer Therapeutics Market: ... prostate cancer therapeutics market analyzes the current and ... of prostate cancer, launch of promising emerging therapies, ... new drugs & therapeutic biological products, and high ... lesser side effects are some of the drivers ...
Breaking Medicine Technology:
(Date:4/25/2017)... , ... April 25, 2017 , ... ... they rely on contracted partners to help with process innovation in drug formulation ... drug formulation experience along with state-of-the-art analytical equipment in support of their development ...
(Date:4/25/2017)... ... , ... Buyers and sellers in the thriving multi-billion dollar cannabis marketplace – ... but be heartened by the industry’s current surge. But another thing that unifies them ... At last they can simply, safely and effectively end their aroma anguish thanks ...
(Date:4/25/2017)... ... 25, 2017 , ... Emergency Physician and Distinguished Professor of Emergency Medicine Bentley ... in Writing, set to publish in summer 2017. , Dr. Bobrow, MD, FACEP, ... Arizona College of Medicine. He also serves as Medical Director for the Bureau of ...
(Date:4/25/2017)... , ... April 25, 2017 , ... ... solutions, announces the continuation of its strategic partnership with and platinum sponsorship of ... nations in the safe and effective management of complex spine deformity cases, particularly ...
(Date:4/24/2017)... ... , ... Michael Vick announced his retirement earlier this year from the NFL ... one pick in the 2001 NFL Draft, to the Atlanta Falcons, made four Pro ... career rushing yards by a quarterback (6,109) and the most rushing yards by a ...
Breaking Medicine News(10 mins):