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news.Access Pharmaceuticals has completed the acquisition of Somanta Pharmaceuticals through the issuance of 1.5 million shares of its common stock, as previously announced.
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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 II clinical development.
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.
Jeffrey Davis, chairman and CEO of Access, said: “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.”