AlphaRX

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AlphaRX

Postby bromley » Thu May 11, 2006 7:17 am

AlphaRx Enters a Collaboration to Develop Novel Compounds for Central Nervous System Disorders

AlphaRx and PharmaSeed Collaborate to Develop New Drugs From a New Class of Small Molecules for the Potential Treatment of Central Nervous System Disorders Such as Stroke and Multiple Sclerosis.

AlphaRx Inc., an emerging biopharmaceutical company, announced today that it has entered into a collaboration with PharmaSeed Ltd. of Israel, a bio-pharmaceutical company specializing in drug discovery and early development phases for the development of new drugs for the potential treatment of CNS disorders such as stroke and multiple sclerosis.

Under the collaboration, AlphaRx will be responsible for the synthesis, characterization, formulation, analysis and production of this new class of compounds, which PharmaSeed will evaluate in stroke and multiple sclerosis models. The parties may create a joint venture for the subsequent commercialization of selected molecules arising out of the collaboration.

AlphaRx's lead compounds have shown significant immune system modulating properties, low toxicity, rapid onset and potent anti-inflammatory activity in pre-clinical studies conducted by the Company. Successfully developed, they offer great potential for the future of immunomodulation therapy, suitable in the treatment of immune deficiency states which include cancer, AIDS, Alzheimer's disease, multiple sclerosis, stroke, neuro-inflammation and severe acute and chronic inflammatory conditions such as arthritis and colitis.

PharmaSeed offers an array of comprehensive in vitro and in vivo models to establish proof-of-concept for the treatment of CNS diseases and to provide essential information about drug efficacy and safety of tested compounds through the use of small animal neurological models, behavioral testing and preclinical neurotoxicological assays. The CNS disease models to be investigated by PharmaSeed include stroke, SAH, Parkinson's disease, Alzheimer's disease, pain, anxiety, depression, epilepsy, head trauma, and spinal cord trauma.

"We are excited to work with PharmaSeed to build on complementary platforms that have the potential to develop therapeutic solutions for large unmet medical needs," said Michael Lee, CEO of AlphaRx. "Based upon promising pre-clinical results, we are optimistic that the relationship with PharmaSeed will help the Company advance our programs through clinical development."

About AlphaRx Inc.

AlphaRx is an emerging biopharmaceutical company utilizing proprietary drug delivery technology to develop novel formulations of drugs that are insoluble or poorly soluble in water or have yet to be administrable to the human body with an acceptable delivery method. The Company's product candidates address various pharmaceutical markets, including arthritis, tuberculosis, ocular infection & inflammation, cataracts, hospital acquired pneumonia and sepsis.

About PharmaSeed

PharmaSeed Bioservices is the operating arm of PharmaSeed Ltd., a bio-pharmaceutical company specializing in drug discovery and early development phases. The company provides pre-clinical and consulting services to companies in the fields of medical devices, biotechnology and pharmaceutics.

Forward-Looking Statements:

This release contains forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities 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.

Source: AlphaRx Inc.
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