EXHIBIT
99.1
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ACCESS
NEWS
Contact:
Company Contact:
Investor Relations
Stephen
B.
Thompson Donald
C. Weinberger/Alisa Steinberg (media)
Vice
President, Chief Financial
Officer
Wolfe Axelrod Weinberger
Assoc. LLC
Access
Pharmaceuticals,
Inc.
(212) 370-4500
(214)
905-5100
Andrew
Hellman, CEOcast, Inc. for Access Pharmaceuticals
(212) 732-4300
ACCESS
PHARMACEUTICALS CLOSES ACQUISITION OF SOMANTA
PHARMACEUTICALS
-
Acquisition of Four Potent Anti-cancer Products Fills Out Robust Pipeline
-
DALLAS,
TX, January 7, 2008, Access Pharmaceuticals, Inc. (OTC BB: ACCP)
announced today that it has closed the acquisition of Somanta
Pharmaceuticals, Inc. (OTC BB: SMPM) through the issuance of 1.5 million shares
of Access Pharmaceuticals’ common stock, as previously announced. Somanta’s
broad portfolio of drug candidates features four novel anti-cancer compounds
in
development, each of which acts by a unique mechanism of action and has the
potential to target a wide range of different cancer types. The Somanta product
candidate portfolio includes Angiolix, a humanized monoclonal antibody with
a
unique target, Prodrax, a novel prodrug and platform technology that enables
compounds to reach the hypoxic region of tumors, Alchemix, a multi-target
inhibitor that is specifically designed to be effective against cancer cells
resistant to conventional chemotherapy, and sodium phenylbutyrate, an HDAC
inhibitor, that is currently in Phase 2 clinical development.
Additionally,
it is anticipated that select members of Somanta’s management team who have
established track records of guiding compounds through the FDA and EMEA approval
processes will join the Access team.
“The
acquisition of Somanta brings four very exciting product candidates and one
platform technology into the Access pipeline, and we look forward to advancing
them towards clinical development this year,” stated Jeffrey B. Davis, Access’
Chairman and CEO. “Together with the ongoing development efforts with ProLindac
and the Cobalamin oral insulin programs, we feel that the Somanta product
candidates position us very well for the next few years. In addition to internal
development of these products, we are actively seeking development and marketing
partners for our products, both domestically and overseas.”
About
Angiolix®: Angiolix is a humanized monoclonal antibody
(huMc-3 mAB) that is unique in that its proprietary target is a protein known
as
lactadherin. Lactadherin is a potent stimulator of angiogenesis, promoting
the
growth of new blood vessels to support tumor growth. Angiolix, by blocking
lactadherin (by inhibiting the binding of Lactadherin to integrin), has the
potential to induce programmed cell death, or apoptosis, in blood vessels that
support tumors.
Access Pharmaceuticals, Inc.
Page 2
About
Prodrax®: Prodrax is a novel prodrug platform technology
that enables compounds to remain inert until they reach the hypoxic or low
oxygen regions of tumors, where they become toxic and enable effective tumor
killing.
About
Alchemix®: Alchemix is a chloroethylaminoanthraquinone, a
multi-target inhibitor specifically designed to overcome the problem of
multi-drug resistance. Pre-clinical studies have been completed, and a Phase
1
dose-escalating trial is expected to commence in late 2008.
About
Phenylbutyrate: Sodium phenylbutyrate (PB), an HDAC
inhibitor, has been investigated in multiple Phase 1/2 NIH and
clinician-sponsored trials, and is currently approved by the FDA for the
treatment of hyperuremia, a pediatric orphan indication. PB has a well known
safety profile, and is currently in the Phase 2 development by Access’ US
partner, Virium Pharmaceuticals, Inc.
________________________________
About
Access: Access Pharmaceuticals, Inc. is a biotechnology company that
leverages its proprietary nano-polymer chemistry expertise to develop
proprietary products. Access' products include ProLindac™, a novel DACH platinum
drug that is currently in Phase 2 clinical testing of patients with ovarian
cancer and MuGard™ for the management of patients with mucositis. The Company
also has other advanced drug delivery technologies including Cobalamin™-mediated
targeted delivery and oral drug delivery. For additional information on Access
Pharmaceuticals, please visti our website at
http://www.accesspharma.com.
About
ProLindac™: ProLindac is a novel DACH platinum prodrug which
has been shown to be active in a wide variety of solid tumors in both
preclinical models and in human trials. Access believes that ProLindac’s unique
molecular design potentially could eliminate some of the toxic side effects
seen
in the currently marketed DACH platinum, Eloxatin, which has sales in excess
of
$2 billion.
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:
clinical trial plans and timelines and clinical results for ProLindac and the
product candidates acquired in the Somanta transaction, the execution of license
agreements in the future and our ability to execute development agreements
in
the future. These statements are subject to numerous risks, including but not
limited Access’ need to obtain additional financing in order to continue the
clinical trial and operations 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.
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