NEW YORK, Nov. 24, 2014 (GLOBE NEWSWIRE) -- AV Therapeutics, Inc. ("AV Therapeutics" or the "Company") (OTCQB:AVTH), a developer of cancer therapeutics and vaccines, is pleased to announce the completion of GMP synthesis of its lead prostate cancer drug, Capridine.
Analysis of the product indicated the Capridine to be 99.8 % pure and NMR (nuclear magnetic resonance) analysis showed great conformity of the scaled-up product. This achievement was possible with the help of the colleagues at Davos Pharma and the scientists at Anthem Biosciences, under the supervision and guidance of Dr. Raj Tiwari, Chief Scientific Officer of AV Therapeutics.
Dr. Tiwari emphasized that the purity of the product is especially significant as it demonstrates that during the scale-up process the structural integrity was completely maintained, validating the outlined synthesis protocol described in the AV Therapeutics-licensed patent.
Commenting on this milestone achievement, Dr. Abraham Mittelman, CEO of AV Therapeutics, while congratulating the team on having achieved this feat in the shortest and cost effective manner, also expressed satisfaction that the Company can now take the next step toward clinical evaluation. He stated, "All of our previous data on the product is validated and this level of purity of the drug will go a long way in defining its clinical activity."
A Certificate of Analysis has been generated that outlines all of the analyses and structure of the synthesized product. This GMP product was used to generate a limited toxicity profile, and scientists at AV Therapeutics are currently analyzing the data.
About AV Therapeutics, Inc.
AV Therapeutics is a New York-based company engaged in the development of the chemotherapeutic drug Capridine and peptide mimotope-based Cancer Vaccines. In preclinical trials in cell culture and xenograft models, Capridine was seen to have specific activity towards prostate cancer with low myelo-suppression. These activities placed Capridine in a unique category, none of which exists in the prostate cancer area, especially for metastatic castrate resistant prostate cancer (CRPC). The chemotherapy market for prostate cancer is estimated at more than $2 billion.
Forward-Looking Statements
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," and "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 forward-looking statements.