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AlphaRx Provides Corporate and Development Update
Date:5/20/2008

MARKHAM, ON, May 20 /PRNewswire-FirstCall/ - AlphaRx (OTC BB:ALRX - News), an emerging biopharmaceutical company utilizing proprietary drug delivery technology to develop novel formulations of drugs, is pleased to provide shareholders with an update on recent corporate developments.

TSX Venture Exchange Application

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AlphaRx is seeking a listing with the TSX Venture Exchange. Research Capital Corporation is sponsoring the application. AlphaRx is in the process of raising up to $1,800,000 U.S. via a private placement in conjunction with the listing application. AlphaRx has been in correspondence with the TSX Venture Exchange and has responded to all comments raised to-date.

Corporate Website

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AlphaRx is working on a new and improved corporate website which will reflect all current business focus. This new website will be launched some time in June.

Product Development

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AlphaRx's current focus is on the development of "nanobiotics" for the treatment of severe pneumonias. AlphaRx's high-priority development programs include Vansolin(TM) and Zysolin(TM).

Vansolin(TM), a specially-formulated Vancomycin nano-particulate formulation, is intended for the treatment of severe pneumonias caused by MRSA (Methicillin Resistant Staphylococcus Aureus) pathogens. Vansolin(TM) is undergoing pivotal animal studies. The Company will make a go/no go decision based on the outcome on these studies which will be available by mid-July.

Zysolin(TM), a specially-formulated Tobramycin nano-particulate formulation, intended for the treatment of severe pneumonias caused by gram negative pathogens such as Psedomonas Aeruginosa. The Company is developing Zysolin(TM) as a primary therapy for Cystic Fibrosis and an adjunctive therapy for ventilated patients with hospital-acquired, Gram-negative pneumonias. Zysolin(TM) is undergoing pivotal animal stu
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SOURCE AlphaRx Inc.
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