AlphaRx seeks licensing or partnering deal to develop Acusolin, potential eye drop for cataracts

By E. Janene Geiss

Philadelphia, Dec. 20 - AlphaRx Inc. said Tuesday that it was seeking financial resources through out-licensing or co-development to support clinical research of its formulation for Acusolin, a potential eye drop for cataracts.

The company said the new formulation, its third opthalmic product, is complete and it has started in vivo studies as scheduled, according to a company news release.

The company will investigate Acusolin using an established cataract animal model. This model is designed to demonstrate the drug's ability to prevent and treat senile cataracts, officials said.

Cataract disease affects millions of individuals worldwide. Currently, surgery is the only effective method of treating vision loss caused by cataracts and over 1.4 million people have cataract surgery each year in the United States, officials said.

The company said it hopes to begin clinical studies for Acusolin by the end of 2006, for which it is seeking financial support.

AlphaRx is a Markham, Ontario biopharmaceutical company utilizing proprietary drug-delivery technology to develop novel formulations of drugs that are insoluble or poorly soluble in water or have yet to be administrable to the human body with an acceptable delivery method.

The company's product candidates address various pharmaceutical markets, including arthritis, tuberculosis, ocular infection, ocular inflammation and hospital-acquired pneumonia.

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