MARKHAM, ON, Dec. 11 /PRNewswire-FirstCall/ - AlphaRx AlphaRx, a leader in the development of Nanotechnology for Drug Delivery Platforms, is pleased to announce that it has retained a Canadian investment bank to act as sponsor for the inter-listing of its shares on the TSX Venture Exchange.
“We strongly believe that being listed on a Canadian stock market will help create shareholder value. It is often difficult for Canadians to trade on certain U.S. exchanges. By inter-listing on a Canadian exchange, we are removing an obstacle,” said Michael Lee, President and CEO of AlphaRx.
The TSX Venture Exchange, which is owned by TSX Group, have a strong corporate governance regime - similar to the U.S., companies have to pass published financial and sector-specific tests to list on TSX Venture Exchange.
Companies that list on TSX Venture Exchange have the added advantage of benefiting from Canada’s strong dollar and healthy economy - forecasted to grow at almost double that of the U.S. in 2008 - as well as strong demand from Canadian retail and institutional investors, many of whom are used to trading small-cap stocks.
Upon approval of its listing application by the TSX Venture Exchange, AlphaRx’s common stock will be dually listed on the TSX Venture Exchange in Canada as well as over-the-counter in US.
About AlphaRx Inc.
AlphaRx is a specialty pharmaceutical company utilizing proprietary site-specific nanoparticulate drug delivery systems 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 also discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases and neurodegenerative diseases.
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 companies.
CONTACT: AGORACOM Investor Relations Corp., Web: http://www.agoracom.com,
E-mail: ALRX@Agoracom.com