ADVENTRX and SynthRx, a private biotechnology company developing a treatment for micro-vascular disorders, entered into a definitive merger agreement in February 2011, which was completed on April 8, 2011. In connection with the closing, ADVENTRX issued approximately 2.8 million shares of its common stock.
A major complication of drug treatment regimes is the significant side effects that are experienced by patients, particularly in the case of chemotherapeutic drugs. To this end, ADVENTRX has developed a drug reformulation platform that not only reduces the severity of adverse drug side effects, but also improves drug efficacy, which they have used to reformulate currently available cancer and hematology drugs. The company uses its proprietary technology to develop novel drug formulations that overcome the drawbacks consistently seen with marketed drugs, including reducing the incidence and severity of adverse effects, as well as improving the pharmoeconomics and convenience to the healthcare community. The company’s lead product candidates are late clinical stage emulsion configurations of the marketed chemotherapeutic drugs Exelbine and Navelbine, which are sold as injectable concentrates.