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QRxPharma Begins Trading on the International OTCQX
Date:7/1/2008

Strategy to Expand US Investor Base and Increase International Liquidity

SYDNEY, Australia and BEDMINSTER, N.J., July 1 /PRNewswire/ -- QRxPharma Limited (ASX: QRX), a clinical-stage specialty pharmaceutical company focused on the development and commercialization of therapies for pain and central nervous system (CNS) disorders, announced today its recently initiated Level 1 American Depositary Receipt (ADR) program has been listed on the International OTCQX. QRxPharma's ADR began trading yesterday, June 30 on International PrimeQX under the ticker QRXPY.

The International OTCQX is the leading electronic trading, quotation and disclosure venue to the U.S. over-the-counter (OTC) market. The International OTCQX provides issuers with an efficient and robust platform on which to list securities and access some of the deepest pools of liquidity in the world. The listing of the ADR program on the International OTCQX will enable QRxPharma shares to be more accessible to U.S. institutions and private investors, including those permitted to buy only US-based securities, and distinguishes the QRxPharma ADR program from the approximately 8,000 OTC securities currently traded in the U.S.

"As QRxPharma prepares to initiate final Phase 3 studies of its lead dual-opioid product candidate, Q8003IR, for NDA submission to the FDA in 2009, we are working proactively to diversify and extend our shareholder base" said Dr. John Holaday, Managing Director and Chief Executive Officer, QRxPharma. "With the Company achieving its critical development milestones as projected and reporting positive clinical data to date, this initiative is part of a broad strategy to maximize value, provide access to U.S. investors, and increase international liquidity."

U.S. investment bank Merriman Curhan Ford, will serve as QRxPharma's Principal American Liaison ("PAL") on the International OTCQX, responsible for providing guidance on listing requirements.

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SOURCE QRxPharma
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