Dallas-based Access Pharmaceuticals closes acquisition of Somanta Pharmaceuticals

by PegNews wire

DALLAS — Access Pharmaceuticals, Inc. announced today that it has closed the acquisition of Somanta Pharmaceuticals, Inc. 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.

"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."

Source: Access Pharmacueticals