HONG KONG, May 10, 2010 /PRNewswire via COMTEX/ -- AlphaRx, Inc. (OTCBB: ALRX), has been advised by Cypress Biosciences ("Cypress"), its development partner for Indaflex, that Cypress is not funding development of Indaflex. Notwithstanding to the termination of all Indaflex activity in the U.S.A., AlphaRx continues to develop Indaflex for the Chinese market. AlphaRx is working diligently with its regulatory consultants in the preparation for submission of a CTA (clinical Trial Application) with the China SFDA in order to begin human trials in China.
These preparations are proceeding on schedule.
About AlphaRx Inc.
AlphaRx is a specialty pharmaceutical company dedicated to developing proven therapies by reformulating FDA approved and marketed drugs which through the application of its proprietary site-specific nano drug delivery technology, offers improved medical benefits and a potential for significant commercial product development. The Company's product candidates address various pharmaceutical markets, including inflammation, stroke and pneumonia.
SOURCE AlphaRx Inc.
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