AlphaRx, Inc., incorporated on August 8, 1997, is a pharmaceutical company, engaged in the research and development of therapeutic products using drug delivery technologies. The Company is engaged in developing novel formulations of existing drugs that are insoluble or poorly soluble in water, utilizing its proprietary bioadhesive colloidal dispersion (BCD) drug delivery systems. The Company’s products include Indaflex, Vansolin, Zysolin, Zysolin, Teposolin, ARX-606T, GAI-122, GAI-122 and ARX 2038. The Company has completed Phase I human trial for Indaflex and with its license Proprius Pharmaceuticals Inc. (Proprius), the Company completed Phase II clinical trials for Indaflex.