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Industry Center - Biotechnology
| Contact Information | |
| Address: | 2000 Hamilton St., Ste. 204 Philadelphia, PA 19130 |
| Phone: | 215-241-9760 |
| Fax: | 215-241-9684 |
| Key People | |
| • | CEO: Adele Sommerfeld |
| • | BOD: Andrew W. Dahl Sc.D.; Serge Morrell |
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| Business Summary |
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AVAX Technologies, Inc., a development stage biotechnology company, together with its subsidiaries, engages in the development and future commercialization of individualized vaccine therapies and other technologies for the treatment of cancer in the United States and Europe. The company's autologous cell vaccine candidates include M-Vax under Phase III clinical status, which is used for the treatment of melanoma; L-Vax under Phase I-II clinical status that is used for the treatment of non-small cell lung cancer; and O-Vax under Phase I-II clinical status, which is used for the treatment of ovarian cancer. It also offers biological manufacturing services to other biotechnology and pharmaceutical companies; and contract manufacturing services in for cell and gene therapy, and biological products in France. AVAX Technologies, Inc. was founded in 1990 and is based in Philadelphia, Pennsylvania.
PHILADELPHIA, Feb. 4, 2011 /PRNewswire/ -- AVAX Technologies, Inc. (Pink Sheets:AVXT.pk - News) ("AVAX" or the "Company") today announced that it filed a Form 10 with the Securities and Exchange Commission ("SEC"). Upon the effectiveness of this Form 10, AVAX will once again become a publicly reporting company. The Company intends to seek to have its common stock trade on the Over-the-Counter Bulletin Board.
The Company's Form 10, which contains among other things, recent information about the Company's business, operations, financial results and capitalization, can be accessed through the website maintained by the SEC at www.sec.gov.
About AVAX Technologies, Inc.
AVAX Technologies, Inc. is a biotechnology company headquartered in Philadelphia, PA. The Company is engaged in the research and clinical and commercial development of biological products and cancer therapeutics.
The Company's AC Vaccine platform is a therapeutic cancer vaccine.
Forward-Looking Statements
Certain statements in this release are "forward-looking" statements. Forward-looking statements involve significant risks and uncertainties, and in light of the significant uncertainties inherent in such statements, the inclusion of such information should not be regarded as a representation by the Company that the objectives and plans of the Company will be achieved. In fact, actual results could differ materially from those contemplated by such forward-looking statements. These statements include, but are not limited to, the Company's immediate need to obtain additional funding to continue to finance the Company, the Company's plans, objectives, projections, expectations and intentions such as those relating to the future development of M-VAX® and its other vaccine candidates, as well as other important factors discussed in the Company's Form 10. The Company does not undertake any obligation to release publicly any revisions to these forward-looking statements or to reflect the occurrence of unanticipated events.
Press Releases & AVAX Information:
https://en.wikipedia.org/wiki/Avax_Technologies
http://www.reuters.com/article/2014/01/08/ctca-trial-cancer-idUSnPnDChVKwJ+16d+PRN20140108
http://ih.advfn.com/p.php?pid=nmona&article=61013370
http://www.bizjournals.com/philadelphia/blog/health-care/2014/02/ovarian-cancer-vaccine-testing-expands.html
http://www.avax-tech.com/about/pdfs/avaxfactsheet.pdf
Published: Aug 4, 2015 7:31 p.m. ET
PHILADELPHIA, Aug 04, 2015 (BUSINESS WIRE) -- AVAX Technologies, Inc., (“AVAX” or “The Company”) (AVXT – OTCMKTS), a leading developer of proprietary cancer immunotherapy products, has signed a Settlement & Release Agreement with Cancer Treatment Centers of America Inc. (“CTCA”) to positively resolve the existing debt obligations owed to CTCA.
Under the terms of the Settlement Agreement, CTCA has agreed to settle its $5,826,464.73 Judgment against AVAX in exchange for 860,000 Series A Convertible Preferred Shares at a consideration of $5.00 per share, and a one-time payment of $1.5 million in cash. Firebird Management, a shareholder and a creditor of AVAX, has agreed to swap its outstanding debt for the Series A Convertible Preferred Shares also at a consideration of $5.00 per share.
Andrew Dahl, AVAX Board Member noted, “we are extremely happy to be able to move forward with the reorganization of AVAX’s balance sheet and look forward to re-commencing the important planned clinical trials at AVAX. Our previous work with CTCA on clinical programs has been very successful.”
Richard Rainey, Acting Chief Executive Officer of AVAX, stated, “We are pleased that throughout the development of our AC Vaccine® platform, all of our data has remained consistently positive and has supported further development of the treatment. We feel our immunotherapy platform is consistent with recently approved products and could be additive to the benefits achieved in helping patients with cancer.”
SGC Canada Inc., is acting on behalf of AVAX with its creditors in negotiating its informal restructuring plan. David Holden, the Senior Corporate Advisor of SGC states that “AVAX will be effectively debt-free once the Financial Restructuring & Refinancing Plan is completed.” The Board of AVAX has previously approved the engagement of Phoenix Corporate Finance Inc., a corporate finance firm which specializes in alternative financing, to advise, structure, and facilitate the distribution of a proposed Private Placement financing. through select securities dealers in the US and Canada. AVAX intends to raise $45 million to fund its next round of clinical testing through the issuance of the Series A Convertible Preferred Shares.
AVAX TECHNOLOGIES WEBSITE IS NOW ACTIVE: WWW.AVAX-TECH.COM/
AVAX TECHNOLOGIES, INC APPOINTS NEW CEO: ADELE SOMMERFELD 10/19/2015
http://www.prnewswire.com/news-releases/avax-technologies-inc-announces-the-appointment-of-chief-executive-officer-300161646.html
