AlphaRx Provides Corporate Update.Business Editors BIOWIRE2K RICHMOND HILL Richmond Hill may refer to: Places:
AlphaRx Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AHRX) today provided an update to shareholders on its ongoing product and corporate development activities. Pain Management AlphaRx continues to progress in its pain management development program. The Company has initiated discussion with several contract research organizations in United Kingdom in preparation for a Phase 1 human trail for its topical IndoFlex in early September. Topical NSAIDs are widely used in Europe and are available over-the-counter and by prescription. Nutraceutical AlphaRx is preparing to market its CoQ10 ER and LipoBloc and one other as yet undisclosed nutraceutical product in Canada in June. The Company expects its once-a-day, clinically proven CoQ10 ER to compete effectively against other marketed CoQ10 products. The Company has engaged GloboMax LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , an international contract research organization, to assist it in obtaining FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approval for LipoBloc's proposed labelling claim of reducing the risk of heart disease by lowering blood cholesterol levels. Such a labelling claim is currently extended to certain food and nutritional products containing plant sterol Sterol Any of a group of naturally occurring or synthetic organic compounds with a steroid ring structure, having a hydroxyl (—OH) group, usually attached to carbon-3. and plant stanol esters. The FDA recognizes that plant sterols sterols (ster´ôlz), n.pl steroids having one or more hydroxyl groups and no carbonyl or carboxyl groups (e.g., cholesterol). are poorly soluble in oil and in water and a large intake of plant sterols is needed to lower cholesterol. The Company is prepared to work with GloboMax and conduct clinical trials to substantiate its claim to the FDA upon request. Corporate development AlphaRx has entered into a strategic alliance with Vesta Pharmaceuticals Inc, a privately held Indianapolis based contract manufacturer that has just been awarded this year's Exporter of the Year Award by the Small Business Association. Under the arrangement, Vesta will become the Company's preferred nutraceutical manufacturer and the Company will become Vesta's preferred formulator, thus reducing manufacturing and R&D costs for both parties. The Company expects the Vesta arrangement will open up new business opportunities for the Company. About AlphaRx AlphaRx is engaged in the development of novel formulations of drugs that are insoluble or poorly soluble in water. FORWARD LOOKING STATEMENTS: This release contains forward-looking statements within the meaning and pursuant to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995 and involve risks and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product development and acceptance, manufacturing, competition, regulatory and/or other factors, which are outside the control of the Company. |
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