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China Aoxing and QRxPharma Announce a Development Alliance

Feb. 22, 2010

QRxPharma Limited has announced on February 23, 2010 a strategic alliance with China Aoxing Pharmaceutical Company to collaborate in the development of MoxDuo®IV, an intravenous formulation of QRxPharma’s patented morphine and oxycodone Dual-Opioid™ technology for the acute treatment of moderate to severe pain. Under the terms of the agreement, China Aoxing will fund the development of MoxDuo®IV for the China market in exchange for exclusive marketing rights in China. QRxPharma will retain ownership of MoxDuo®IV and may use the clinical work completed by China Aoxing for product registration purposes outside of China.
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.