AlphaRx Announces Neuroprotection Research Collaboration with NeuroProtection Inc. and The University Health Network, University of Toronto

Business Wire, Oct 25, 2001

Business Editors and Health/Medical Writers

RICHMOND HILL, Ontario--(BW HealthWire)--Oct. 25, 2001

AlphaRx Inc. (OTCBB:AHRX) today announced a research study involving ex-vivo and animal investigations to evaluate different proprietary anti-inflammatory formulations for enhanced delivery effect on site inflammation, brain inflammation, aging and neuroprotection. This study is a collaboration between AlphaRx, NeuroProtection Inc. and the University Health Network, University of Toronto. The principal research study investigator is Dr. Peter Carlen, Professor of Medicine (Neurology) and Physiology at the University of Toronto, and clinical Neurologist/scientist at the Toronto Western Research Institute of the University Health Network.

The investigational compounds in this study will include standard Non-Steroidal Anti-Inflammatory Drugs (NSAIDs), in combination with AlphaRx's proprietary drug delivery vehicle, and NeuroProtection Inc.'s proprietary membrane-permeable, calcium buffer neuroprotective agents.

Part of this research will investigate the neuroprotective activity of AlphaRx's two proprietary anti-inflammatory compounds, code named ARX-2001 and ARX-2002, which have shown low toxicity, rapid onset and prominent anti-inflammatory activity in previous animal studies. The Company believes that these two compounds may have great neuroprotective potential in acute nervous system disorders and injuries such as stroke, as well as in chronic neurodegenerative disorders such as Alzheimer's disease, Parkinson's disease, Huntington's disease, multiple sclerosis and epilepsy, where many of the underlying mechanisms of neural tissue damage are similar.

About AlphaRx

AlphaRx Inc. is an emerging pharmaceutical company that develops and markets innovative therapeutic products based on its proprietary Bioadhesive Colloidal Dispersion (BCD) drug delivery technology. AlphaRx's BCD technology improves the bioavailability and bioperformance of poorly water-soluble drugs to provide improved medical benefits and competitive commercial advantages.

About NeuroProtection Inc.

NeuroProtection Inc. (NPI) is a drug development company specializing in the discovery and development of neuroprotective compounds. NPI houses proprietary property in membrane-permeant calcium buffers targeted at neuroprotection and aging. NeuroProtection Inc. also provides novel drug screening services for the identification of neuroprotective therapeutic candidates in compound libraries.

About Toronto Western Research Institute

Toronto Western Research Institute (TWRI) is one of the three research institutes comprising the University Health Network (UHN). TWRI is home to the research programs associated with the neural and visual sciences, musculoskeletal disease and urban and community health priority programs at UHN. Neuroscientists at TWRI explore the function of the nervous system as they develop treatments for spinal cord injuries, cerebral ischemia, vascular malformations, brain tumours, neurophthalmologic disorders and neurodegenerative diseases such as Alzheimer's disease and Parkinson's disease.

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 Company.