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PRESS RELEASES ADVENTRX Pharmaceuticals Plans Expansion and Move to New Facility SAN DIEGO, June 14, 2004 – ADVENTRX Pharmaceuticals, Inc. (Amex: ANX) announced today that it signed a multi-year lease and will move its headquarters to facilities in the Sorrento Mesa area of San Diego. The new space will accommodate current operational expansion plans, and provides five times the square footage of its current facility. The Sorrento Mesa facility will feature state-of-the-art laboratories for molecular biology, cell culture, and antiviral research, in addition to corporate and administrative offices. "This facility allows us to broaden our product development and clinical research capabilities and create an infrastructure to better support our preclinical and clinical program objectives during the second half of this year and beyond," said Nicholas Jon Virca, ADVENTRX Pharmaceuticals' President and CEO. "We are currently implementing a practical transition plan to move into the expanded facility and expect operational interruption to be minimal." The Company plans to relocate operations during July 2004. About ADVENTRX ADVENTRX Pharmaceuticals Inc. is a biopharmaceutical research and development company whose business strategy is to commercialize leading edge medical research through licensing agreements with prominent universities and research institutions. The Company focuses on cancer and antiviral research to launch products that either extend the usefulness of current therapies or replace marginal therapies with new approaches to treatment. More information can be found on the Company's website at www.adventrx.com . This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are made based on management's current expectations and beliefs. Actual results may vary from those currently anticipated based upon a number of factors, including uncertainties inherent in the drug development process, the timing and success of clinical trials, the validity of research results, and the receipt of necessary approvals from the United States Food and Drug Administration. The Company undertakes no obligation to release publicly any revisions, which may be made to reflect events or circumstances after the date hereof. Contact: The Ruth Group Investors: Stephanie Carrington 646-536-7017 Media: Cynthia Isaac, Ph.D. 646-536-7028 |
