EXHIBIT 99.1

                ADVENTRX COMPLETES $20 MILLION PRIVATE PLACEMENT
                       WITH CARL ICAHN AS LARGEST INVESTOR

SAN DIEGO - AUGUST 1, 2005 - ADVENTRX Pharmaceuticals, Inc. (Amex: ANX) today
announced that it has closed its previously announced $20 million private
placement of common stock and warrants. Investment funds controlled by Carl
Icahn were the largest investors in the transaction, together with Viking Global
Investors LP. Icahn investors and Viking will have the right to designate one
director to the ADVENTRX Board of Directors.

"With this financing now closed we intend to continue to focus on the
development of our lead product, CoFactor(TM), to broaden our product pipeline
and to execute on our strategy to introduce improved anticancer and antiviral
treatments," said Evan M. Levine, president and CEO for ADVENTRX.

The private placement consisted of the sale of 10,810,809 shares of the
Company's common stock, as well as the issuance of warrants to purchase
10,810,809 shares of common stock at an exercise price of $2.26 per share. CIBC
World Markets acted as the lead placement agent and RBC Capital Markets acted as
the co-placement agent for this transaction.

Additional information regarding this transaction is available through the
Company's filing on Form 8-K with the Securities and Exchange Commission.

ABOUT ADVENTRX
ADVENTRX Pharmaceuticals is a biopharmaceutical research and development company
focused on introducing new technologies for anticancer and antiviral treatments
that improve the performance and safety of existing drugs, by addressing
significant problems such as drug metabolism, toxicity, bioavailability or
resistance. The Company's lead compound, CoFactor, is a biomodulator of
5-fluorouracil (5-FU), a widely used cancer chemotherapy. CoFactor is currently
being tested with 5-FU in a US-based Phase II and an EU-based Phase IIb clinical
trial as a first line treatment of metastatic colorectal cancer. In addition,
CoFactor has received clearance under a special protocol assessment from the US
FDA to begin a Phase III pivotal clinical trial for metastatic colorectal
cancer. More information can be found on the Company's Web site at
www.adventrx.com.

Forward Looking Statement
This press release contains forward-looking statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. Such statements are made based on management's current expectations and
beliefs. Actual results may vary from those currently anticipated based upon a
number of factors, including uncertainties inherent in the drug development
process, the timing and success of clinical trials, the validity of research
results, and the receipt of necessary approvals from the FDA and other
regulatory agencies. For a discussion of such risks and uncertainties, which
could cause actual results to differ from those contained in the forward-looking
statements, see "Risk Factors" in the Company's last quarterly report on Form
10-Q, as well as other reports that the Company files from time to time with the
Securities and Exchange Commission. All forward-looking statements are qualified
in their entirety by this cautionary statement. The Company undertakes no
obligation to release publicly any revisions, which may be made to reflect
events or circumstances after the date hereof.


Contact:
ADVENTRX PHARMACEUTICALS
Andrea Lynn
858-552-0866

Investor Contact:
LIPPERT HEILSHORN & ASSOCIATES
Jody Cain (jcain@lhai.com)
Brandi Floberg (bfloberg@lhai.com)
310-691-7100



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