AlphaRx Seals Collaboration Agreement With Venturepharm

AlphaRx has entered into a collaboration agreement with Venturepharm to establish a drug development center in China Medical City, in China. It is expected to be used as a platform for the development of innovative drug products for the Chinese pharmaceutical market.

Under the terms of the agreement, AlphaRx will incorporate its China R&D facility into Venturepharm’s pre-clinical development complex. It comprises a 200,000 sq. ft. chemistry center, a 200,000 sq. ft. multi-product pilot plant to support pilot scale formulation and Clinical Trial Material (CTM) manufacture of biopharmaceutical products, and a 500,000 sq. ft. animal testing center (under construction).

In addition, 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 fastest growing pharmaceutical market.