Memorial Sloan-Kettering's Dr. Howard Scher Reaffirms Commitment to Lead Phase
I Trials for AV Therapeutics' Prostate Cancer Drug
Capridine Trials to be Conducted Through the Prostate Cancer Clinical Trials
Consortium, Comprised of 13 Leading Cancer Centers
NEW YORK, May 7, 2014 (GLOBE NEWSWIRE) -- AV Therapeutics, Inc. ("AV
Therapeutics" or the "Company") (OTCQB:AVTH), a developer of cancer
therapeutics and vaccines, announced Howard Scher, MD, Chief, Genitourinary
Oncology Service and D. Wayne Calloway Chair in Urologic Oncology at Memorial
Sloan-Kettering Cancer Center, reaffirmed his commitment to lead AV
Therapeutics' Phase I clinical trial for its prostate cancer immunotherapy
Prostate cancer is the most common type of cancer in men in the U.S. According
to the American Cancer Society, an estimated 233,000 new cases of prostate
cancer will be diagnosed and approximately 29,480 men will die of prostate
cancer in the U.S. in 2014.
Addressing a $2 billion market for treatment of prostate cancer in the U.S.,
AV Therapeutics' Capridine-β is a patented chemotherapy drug that belongs to a
class of compounds tested by the National Cancer Institute, with research
funded by the Department of Defense and the National Institutes of Health.
DavosPharma, the leading provider of discovery, chemistry, and formulation
services for emerging biotechs and established multinationals, is currently
manufacturing Capridine-β in preparation for the upcoming clinical trials.
The clinical trials for AV Therapeutics' Capridine-β will be conducted in
collaboration with the Prostate Cancer Clinical Trials Consortium ("PCCTC"),
which is comprised of 13 leading cancer centers, including Dana-Farber Cancer
Institute; The Johns Hopkins University, Sidney Kimmel Cancer Center; MD
Anderson Cancer Center; Memorial Sloan-Kettering Cancer Center; Fred
Hutchinson Cancer Research Center; Duke University Cancer Center; and others.
The PCCTC was formed to rapidly and efficiently develop promising prostate
cancer therapies and provides the pharmaceutical industry with scientific
guidance on clinical trial design, helping to reduce the time needed to move a
drug candidate from discovery to clinical investigation. Memorial
Sloan-Kettering Cancer Center, under the leadership of Dr. Scher, serves as
the Coordinating Center for the PCCTC.
Dr. Scher previously led the highly successful trials for Medivation Inc.'s
(Nasdaq:MDVN) Xtandi, an FDA-approved treatment for prostate cancer.
"The fact that Dr. Scher is willing to lead our Phase I trial is significant,"
stated Dr. Abraham Mittleman, Chairman of AV Therapeutics. "The depth of
expertise and experience his team brings to AV Therapeutics, particularly in
regards to running clinical trials for prostate cancer drugs, is of great
About AV Therapeutics, Inc.
AV Therapeutics, Inc. is engaged in the business of developing cancer
therapeutics and immunotherapeutic vaccines that can be used alone or in
combination with prevalent treatment modalities such as chemotherapy and
radiation to treat active disease and to prevent metastases and recurrence.
The Company's immune-therapeutics is based on the ability of certain
proprietary reagents to re-educate or reprogram an immune system that can
target previously unidentified micro-metastases. The Company intends to
clinically develop both of these approaches for metastatic and early-stage
All statements pertaining to future financial and/or operating results, future
growth in research, technology, clinical development, and potential
opportunities for AV Therapeutic (the "Company") products and services, along
with other statements about the future expectations, beliefs, goals, plans, or
prospects expressed by management constitute forward-looking statements. Any
statements that are not historical fact (including, but not limited, to
statements that contain words such as "will," "believes," "plans,"
"anticipates," "expects," "estimates") should also be considered to be
forward-looking statements. Forward-looking statements involve risks and
uncertainties, including, without limitation, risks inherent in the
development and/or commercialization of potential products, uncertainty in the
results of clinical trials or regulatory approvals, need and ability to obtain
future capital, and maintenance of intellectual property rights and other
risks discussed in the Company's registration statement on Form S-1 and other
reports filed with the Securities and Exchange Commission which is available
for review at www.sec.gov. Actual results may differ materially from the
results anticipated in these forward-looking statements and as such should be
evaluated together with the many uncertainties that affect the Company's
business. The Company disclaims any intent or obligation to update these
CONTACT: Dave Gentry
RedChip Companies, Inc.
Tel: 1-800-RED-CHIP (733-2447), ext. 104
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