AlphaRx Inc, an emerging biopharmaceutical company utilizing proprietary drug delivery technology to develop novel formulations of drugs, is pleased to announce that it has been granted a comprehensive patent in China for its topical platform technology entitled 'Vehicle For Topical Delivery of Anti-Inflammatory Compounds'. The platform is an integral part of the company's clinical stage product candidate Indaflex.
"China represents a major opportunity for AlphaRx because of its huge and growing market for innovative therapeutics products," said AlphaRx president and CEO Michael Lee. "The granting of this patent from the Chinese government intellectual property authority helps protect our innovative drug delivery technology and further endorses our competitive position in China."
In April 2006, AlphaRx licensed the global rights (with the exception of Asia and Mexico) for Indaflex to Proprius Pharmaceuticals, Inc. Under the terms of the agreement, AlphaRx is eligible to receive milestone payments of up to $116 million for the successful development and commercialization of Indaflex, as well as double-digit royalties on sales. Proprius was acquired by Cypress Biosceince Inc, in March 2008.
Indaflex is AlphaRx's topical NSAID (Non-Steroidal Anti-inflammatory Drug) formulation under clinical development for the symptomatic treatment of osteoarthritis.
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 sitespecific nano drug delivery technology, offers improved medical benefits and a potential for significant commercial product development.