NEW YORK, Jan. 2, 2014 (GLOBE NEWSWIRE) -- AV Therapeutics, Inc. ("AV Therapeutics" or the "Company") (OTCQB:AVTH), a developer of cancer therapeutics and vaccines, announced that its common stock began trading on the OTC Market Group's OTCQB Marketplace ("OTCQB") under the symbol "AVTH" on December 27, 2013.
AV Therapeutics has identified and patented a chemo therapeutic drug called Capridine that has shown in preclinical models to have specific activity against prostate and colon cancer. This drug is expected to be the frontline AV Therapeutics product specifically in prostate cancer where limited chemotherapy exists at present. More than $6 million has been invested in the development of Capridine, including funding by the National Institutes of Health and the Department of Defense.
The Company is expected to enter Phase I trials for Capridine in the second quarter of 2014. Phase I clinical trials will be led by the Prostate Consortium, consisting of sixteen leading U.S. academic medical centers.
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 prostate cancer.