The goal of this collaboration is to enhance AlphaRx's research capabilities, expedite the development of new products as well as to expand the company's product range.

Under the terms of the agreement, AlphaRx will incorporate its Chinese R&D facility into Venturepharm's preclinical development complex which comprises of a 200,000sqft chemistry center, a 200,000sqft multi-product pilot plant to support pilot scale formulation and clinical trial material manufacture of biopharmaceutical products and a 500,000sqft animal testing center.

The in-house pharmaceutical research facilities provide specialized equipment for most aspects of drug R&D. AlphaRx will be responsible for all of its own product development costs and will in turn retain the intellectual property rights relating to any developed products.

Michael Lee, president of AlphaRx, said: "Venturepharm provides the equipment and physical infrastructure to further establish our presence in China and reduces our start up investment costs. As AlphaRx continues to build its presence in China, this collaboration with Venturepharm marks an important step in our overall strategy to commercialize current products and to develop new therapeutics for the world's fastest growing pharmaceutical market."

A service of YellowBrix, Inc.