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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 18, 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 Thursday, June
18, 1998 that a United States patent was issued covering anticancer technology
it licensed from Rutgers University for exclusive development and worldwide
marketing. The patent, U.S. No. 5,752,142 grants claims to novel compounds which
inhibit activity of topoisomerase I, a natural enzyme needed to support
malignant tumor growth.
Reference is made to the Company's related press release attached
hereto as Exhibit 99.13 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:
99.13 Press Release dated June 18, 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 18, 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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99.13 Press Release dated June 18, 1998.
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EXHIBIT 99.13
Contact Jeffery M. Jonas, MD Thomas Redington
Chief Executive Officer 203/222-7399
816/960-1333 212/926-1733
US PATENT ISSUED FOR AVAX ANTICANCER AGENT
KANSAS CITY, MO. JUNE 18 -- AVAX Technologies, Inc. (Nasdaq: AVXT)
said a US patent was issued covering anticancer technology it licensed
from Rutgers University for exclusive development and worldwide marketing.
The patent, US No. 5,752,142, grants claims to novel compounds which
inhibit activity of topoisomerase I, a natural enzyme needed to support
malignant tumor growth.
The newly-patented molecules have the same antitumor mechanistic
actions of currently marketed drugs, such as camptothecins, but have not
shown their severe toxicity. In laboratory tests, they have been shown to
inhibit the activity of the topoisomerase enzyme in several tumor cell
lines.
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, MD, president and CEO
of AVAX, said "This is the first of an expected series of US and
international patents covering technology AVAX licensed from Rutgers,
which includes several novel chemical classes of compounds acting as
topoisomerase inhibitors.
"This provides an important expansion of the technology platforms
for AVAX. Since these compounds act by the same mechanism as other
successful anticancer drugs, we are optimistic over the outcome of ongoing
development activities."
AVAX Technologies is a development-staged 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.
# # #
Except for statements that are historical, the statements in this
release are "forward-looking" statements that are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
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1995 and Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. 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 AVAX 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. Many important factors affect the company's
ability to achieve the stated outcomes and to successfully develop and
commercialize its product candidates, including, among other things, the
ability to obtain substantial additional funds, obtain and maintain all
necessary patents or licenses, to demonstrate the safety and efficacy of
product candidates at each state of development, to meet applicable
regulatory standards and receive required regulatory approvals, to meet
obligations and required milestones under its license agreements, to be
capable of producing drug candidates in commercial quantities at
reasonable costs, to compete successfully against other products, and to
market products in a profitable manner, as well as other risks detailed
from time to time in AVAX's public disclosure filings with the Securities
and Exchange Commission, including, without limitation, its Annual Report
on Form 10-KSB for the fiscal year ended December 31, 1997 and its
Quarterly Report on Form 10-QSB for the Period Ended March 31, 1998. AVAX
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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