October 21, 2008
San Diego, CA-based Adventrx Pharmaceuticals announced that it will terminate a total of nine employees, 27% of its workforce, including one sales position as part of a comprehensive restructuring initiative. Evan M. Levine resigned his positions as CEO and president, effective October 17, 2008. Going forward, the company said that it will focus its resources solely on the development and regulatory approvals of ANX-530 (vinorelbine emulsion) and ANX- 514 (docetaxel emulsion). The company has discontinued active work on all product candidates other than ANX-530 and ANX-514, including its CoFactor program. Patients currently receiving CoFactor will continue to receive treatment.