ADVENTRX completes acquisition of SynthRx

Specialty US drugmaker ADVENTRX Pharmaceuticals (NYSE Amex: ANX) says that it has now completed its previously-announced all stock acquisition of SynthRx (The Pharma Letter February 15), which now becomes a wholly-owned subsidiary.

SynthRx' lead product candidate is a novel, proprietary, rheologic and antithrombotic compound, poloxamer 188, that ADVENTRX will develop as ANX-188.

"With ANX-188, we add to our pipeline another late-stage asset with multiple exciting development opportunities. We plan to meet with FDA this year to reach agreement on a protocol for a pivotal Phase III study for treatment of sickle cell crisis in a pediatric population, an orphan indication," said Brian Culley, chief executive of ADVENTRX.