ADVENTRX Pharmaceuticals Announces Financing

ADVENTRX Pharmaceuticals, Inc. (NYSE Amex: ANX) announced that it has signed agreements to purchase shares of its Series E convertible preferred stock pursuant to a registered direct offering to institutional investors, representing gross proceeds to ADVENTRX of approximately $19,000,000. ADVENTRX plans to use the net proceeds from the offering to fund activities relating to the commercial launch of ANX-530, including acquiring or developing sales, marketing and distribution capabilities and the associated regulatory compliance infrastructure, and to continue the development of ANX-514 in the United States, and for general corporate purposes.

The convertible preferred...

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