DALLAS, Sept. 11 /PRNewswire-FirstCall/ -- ACCESS PHARMACEUTICALS, INC. (BULLETIN BOARD: ACCP) announced today that renowned business columnist Gene Marcial of BusinessWeek, highlighted Access Pharmaceuticals in the most recent edition dated September 17, 2007. The article is also available on http://www.businessweek.com/ under the 'Inside Wall Street' column.
The article focused upon the major opportunity Access' lead compound, ProLindac, has to offer shareholders. ProLindac, a platinum-based drug that is currently in Phase II clinical trials for ovarian and colorectal cancer, has the potential to be a next generation cancer therapy, which is currently dominated by Eloxatin, a current platinum drug that produces revenues in excess of $2 billion and is close to patent expiration in the U.S. Marcial also noted that Dr. Esteban Cvitkovic, Access' Vice-Chairman (Europe) and Senior Director, Oncology Clinical R&D, was responsible for developing Eloxatin during his tenure at Sanofi-Aventis. The article references certain products of Somanta Pharmaceuticals in the cancer area. While Access has executed a definitive merger agreement with Somanta, the acquisition has not yet closed and the closing is still subject to the satisfaction of the closing conditions set forth in the merger Agreement. The consummation of the acquisition is subject to numerous closing conditions.
About Access:
Access Pharmaceuticals, Inc. is an emerging biopharmaceutical company that develops and commercializes propriety products for the treatment and supportive care of cancer patients. Access' products include ProLindac(TM), currently in Phase II clinical testing of patients with ovarian cancer and MuGard(TM) for the management of patients with mucositis. The company also has other advanced drug delivery technologies including Cobalamin(TM)-mediated targeted delivery and oral drug delivery. Access has announced the execution of a definitive merger agreement to acquire Somanta. The acquisition of Somanta has not yet closed and the closing is subject to numerous closing conditions. For additional information on Access Pharmaceuticals, please visit our website at http://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: Access' plans to initiate clinical trials, the value of its products in the market, its ability to achieve clinical and commercial success, its ability to successfully develop marketed products and the ability to obtain or meet the closing conditions in the merger agreement with Somanta Pharmaceuticals, Inc. and applicable regulatory and tax requirements, and to otherwise complete the merger in a timely manner, yet there can be no assurances that the closing conditions will be met or waived or that the transaction will close. These statements are subject to numerous risks, including but not limited Access' need to obtain additional financing and to the risks detailed in Access' and Somanta's Annual Reports on Form 10-KSB and other reports filed by Access and Somanta with the Securities and Exchange Commission.
