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Radient Pharmaceuticals Announces Dismissal of Lawsuit on its CIT Cancer Therapeutic Technology


10/21/2011 10:57:47 AM

TUSTIN, CA--(Marketwire - October 20, 2011) - Radient Pharmaceuticals Corporation "the Company" or "Radient" (OTCQX: RXPC) (PINKSHEETS: RXPC), a developer and marketer of In Vitro Diagnostic (IVD) cancer tests, today announced that the lawsuits filed against Radient Pharmaceuticals regarding rights to its Combination Immune Technology (CIT) cancer vaccine technology have been dismissed.

On September 30, 2011, the Court of Queen's Bench of Alberta, Canada has ruled in favor of Radient by dismissing companion lawsuits filed by AccuVector Group Inc. in 2002, and the Board of Governors of the University of Alberta in 2003. The plaintiffs had alleged damages of up to CDN$20 million.

CIT is a patented cancer therapy owned by Radient Pharmaceuticals' wholly owned subsidiary, NuVax Therapeutics, Inc. CIT is a novel immunogene therapy that works based on a tumor vaccine comprising two polynucleotide sequence encoding two specific proteins into the patient's tumor cells to enhance the immune system's natural ability to destroy cancer cells. CIT technology induces an effective systematic anti-tumor response.

"The dismissal of this suit clears the way for us to move forward in a more productive way with our CIT technology," stated Radient Chairman and CEO Douglas MacLellan.

For additional information on Radient Pharmaceuticals Corporation and its products visit: www.radient-pharma.com or e-mail info@radient-pharma.com. For Investor Relations contact Dilek Mir at: ir@radient-pharma.com or 714-881-0244.

The following table is intended to provide the latest information on Radient's business metrics:

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RPC's Business Metrics                                                      
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Cash on hand: $372,255*                                                     
*Approximate amount as of October 19, 2011                                  
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Common Shares Outstanding:  647 million*                                    
*Approximate number as of October 19, 2011.                                 
  750 million shares authorized.                                            
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Outstanding Warrants & Options:  111 million*                               
*Approximate number as of October 19, 2011                                  
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Radient Pharmaceuticals:

Headquartered in Tustin, California, Radient Pharmaceuticals Corporation is dedicated to saving lives and money for patients and global healthcare systems through the deployment of its FDA-cleared In Vitro Diagnostic Onko-Sure® cancer test kit for colorectal cancer treatment and recurrence monitoring. The Company's focus is on the discovery, development and commercialization of unique high-value diagnostic tests that will help physicians answer important clinical questions related to early disease state detection, treatment strategy, and the monitoring of disease progression or recurrence. To learn more about our company, products, and potentially life-saving cancer test, visit www.radient-pharma.com.

Forward-Looking Statements:

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this document include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products, and prices. With respect to Radient Pharmaceuticals Corporation, except for the historical information contained herein, the matters discussed in this document are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.


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