MARKHAM, ON -- (MARKET WIRE) -- November 07, 2006 -- AlphaRx Inc. (OTCBB: ALRX) announces the signing of a Feasibility and Option Agreement with a global pharmaceutical company based in the U.S. Under the terms of the Agreement, AlphaRx will use its proprietary nanoparticle drug delivery platforms to formulate three products to enhance their effectiveness in treating pre-defined disease indications and of the three products, two are marketed products. The licensee will have 6 months to evaluate the formulated products and exercise its option right for a pre-negotiated License Agreement. AlphaRx will receive an upfront payment from the signing of the Agreement and will be eligible to receive milestone and royalty payments from future product sales that utilize AlphaRx’s delivery technology.
