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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
June 24, 1998
Date of Report (Date of earliest event reported)
AVAX TECHNOLOGIES, INC.
(Exact name of Registrant as specified in its charter)
Delaware 000-29222 13-3575874
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification Number)
4520 Main Street
Suite 930
Kansas City, MO 64111
(Address of principal executive offices)
(816) 960-1333
(Registrant's telephone number, including area code)
Page 1 of 5 Pages
Exhibit Index Appears at Page 3
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Item 5. Other Events
AVAX Technologies, Inc. (the "Company"), announced on Wednesday,
June 24, 1998 that a United States patent was issued covering antifungal
technology it licensed from Rutgers University for exclusive development and
worldwide marketing. The patent, U.S. No. 5,770,617, grants claims to novel
compounds which have promising antifungal activity that could have important
therapeutic implications.
Reference is made to the Company's related press release attached
hereto as Exhibit 99.14 and incorporated by reference herein (including, without
limitation, the information set forth in the cautionary statement contained in
the final paragraph of the press release).
Item 7. Financial Statements, Pro Forma Financial Statements and Exhibits
(c) Exhibits:
99.14 Press Release dated June 24, 1998.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AVAX TECHNOLOGIES, INC.
Date: June 24, 1998
By: /s/ Jeffrey M. Jonas
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Name: Jeffrey M. Jonas, M.D.
Title: President and Chief Executive
Officer
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Exhibit Index
Exhibit Number Description
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99.14 Press Release dated June 24, 1998.
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Contact Jeffery M. Jonas, MD Thomas Redington
Chief Executive Officer 203/222-7399
816/960-1333 212/926-1733
US PATENT ISSUED ON AVAX ANTIFUNGAL TECHNOLOGY
KANSAS CITY, MO. JUNE 24 -- AVAX Technologies, Inc. (Nasdaq: AVXT) said US
patent No. 5,770,617 was issued covering antifungal technology it licensed from
Rutgers University for exclusive development and worldwide marketing.
The patent grants claims to novel compounds which have promising
antifungal activity. Fungal infections are an important and growing medical
problem in general, and are particularly difficult in certain patient
populations with poorly functioning immune systems. These new compounds act as
antifungals through a novel mechanism that could have important therapeutic
implications.
The work underlying the patent was led by Professor Edmond J. LaVoie,
Ph.D., Professor of Medicinal Chemistry and Chairman, Department of
Pharmaceutical Sciences, Rutgers University, and by Professor Leroy Liu, Ph.D.,
Professor of Pharmacology and Chairman, Department of Pharmacology, UMDNJ-Robert
Wood Johnson Medical School. Professor LaVoie is a member of the Scientific
Advisory Board of AVAX and is a consultant to the Company.
In commenting on the patent, Jeffrey M. Jonas, M.D., president and CEO of
AVAX, said "This is the second of an expected series of issued U.S. and
international patents covering technology AVAX licensed from Rutgers, which
includes several novel chemical classes of compounds acting as antitumor and
antiinfective agents. This patent continues the important expansion of the
technology platforms for AVAX and provides opportunities in infectious diseases
in addition to ongoing development efforts with anticancer therapeutics."
AVAX Technologies is a development-stage biopharmaceutical company which
acquires rights to and is developing technologies and products for the treatment
of cancer and other life-threatening immunotherapies and chemotherapies for
cancer. Immunotherapy is a rapidly developing segment of the cancer therapeutic
market.
# # #
Statements in this news release that are not strictly historical,
including statements as to plans and objectives, are "forward-looking"
statements that are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Although AVAX Technologies believes
that the expectations reflected in such forward-looking statements are
reasonable, it can give no assurance that the
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expectations will prove to be correct. Factors that could cause actual results
to differ materially from AVAX Technologies' expectations include, among others,
the company's dependence on licenses and sponsored research agreements; the
ability of the company and others to clinically develop, manufacture and market
the company's pharmaceutical products; government regulation and approval by the
FDA of the company's products for sale in the US; the company's ability to
obtain additional financing needed for manufacturing, marketing and distribution
of the company's products; the company's access to and the market's acceptance
of new products; a limited public market for the company's stock; possibly price
volatility and illiquidity of the company's stock; as well as the risks,
uncertainties, and other factors described in the company's prospectus and other
documents on file with the Securities and Exchange Commission. The company does
not undertake any obligation to publicly release any revisions to these
forward-looking statements or to reflect the occurrence of unanticipated events.
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