Adventrx lays out strategy for chemotherapy drug.

San Diego-based Adventrx Pharmaceuticals said Aug. 4 it intends to submit its experimental chemotherapy drug ANX-530 to the FDA before the end of the year.

The specialty pharmaceutical company indicated in December it would seek a partner to help push its drug forward, until an unnamed investor stepped forward in June. Executives with the company, however, said they would not rule out any options, including a partnership.

The drug, a reformulated version of the intravenous chemotherapy drug Navelbine, used for treating non-small cell lung cancer, is aimed at reducing the incidence and severity of injection site reactions. Worldwide sales of Navelbine and generic vinorelbine in 2006 were in excess of $200 million.

In June, Adventrx said it had raised $1.36 million from a private placement sale of stock from an unnamed investor. The company said the financing allowed it to resume end-stage manufacturing activities associated with its anticipated FDA submission.

Shares of Adventrx, traded under the symbol ANX on the NYSE Amex, were lifted on the news. Shares closed up 8 percent at 13 cents.

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