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QRxPharma Limited and China Aoxing Pharmaceutical Company Announce Strategic Alliance for Development of MoxDuo(R)IV
Date:2/23/2010

"We are pleased to announce this strategic alliance as it furthers our MoxDuo®IV development objectives and provides access to an important and rapidly growing market," said Dr. John Holaday, Managing Director and Chief Executive Officer, QRxPharma.  "By leveraging China Aoxing's technical resources, we are able to cost effectively advance development of MoxDuo®IV.  Our team will work closely with China Aoxing to ensure the development program meets both US Food and Drug Administration (FDA) and China State Food and Drug Administration (SFDA) regulatory requirements."

China Aoxing has also licensed the rights to the China market for MoxDuo®IR, an immediate release capsule presently in pivotal Phase 3 studies in the United States.  A binding term sheet has been signed by the parties and the transaction is expected to be closed by the end of March 2010.

"We are excited to enter into this strategic alliance with QRxPharma to co-develop two promising drugs for China and ex-China markets," said Zhenjiang Yue, the CEO and Chairman of China Aoxing.  "This partnership further solidifies China Aoxing's leading position in the rapidly growing
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