SOURCE: Pink Sheets LLC

July 01, 2008 09:12 ET

QRxPharma Joins International OTCQX

NEW YORK, NY--(Marketwire - July 1, 2008) - Pink OTC Markets Inc., the leading electronic inter-dealer quotation system, trading technology and financial information provider for over-the-counter (OTC) securities, today announced that QRxPharma (PINKSHEETS: QRXPY) (OTCQX: QRXPY), a clinical-stage specialty pharmaceutical company focused on the development and commercialization of therapies for pain and central nervous system (CNS) disorders, has chosen to list its American Depositary Receipts (ADR) on International OTCQX.

QRxPharma's ADRs began trading yesterday, June 30, on the OTC market's prestigious tier, International PrimeQX. Investors can find current disclosure and financial information for the company on www.otcqx.com and www.pinksheets.com.

"We are pleased to welcome QRxPharma to the International OTCQX market tier," said R. Cromwell Coulson, Chairman and CEO of Pink OTC Markets. "As an International OTCQX-listed company, QRxPharma distinguishes itself as one of the most prestigious companies trading over-the-counter in the U.S., and becomes part of a visible market tier via which it can increase U.S. investor awareness and participation."

U.S. investment bank Merriman Curhan Ford will serve as QRxPharma's Principal American Liaison ("PAL") on the International OTCQX, responsible for providing guidance on listing requirements.

"I congratulate QRxPharma for listing on the International OTCQX -- the first step to gaining access to the U.S. institutional investor base," Stephen Nash, Managing Director and Head of OTCQX Advisory at Merriman Curhan Ford, said. "We are proud to be QRxPharma's PAL, by providing the company with value-added U.S. capital markets services that complement its OTCQX listing, such as introductions to sell-side equity research analysts, institutional investor roadshows and speaking opportunities at Merriman's investor conferences."

QRxPharma's ADRs will trade in the United States on International OTCQX under the ticker "QRXPY" where each ADR will represent five ordinary shares. QRxPharma's shares are also listed on the Australian Securities Exchange (ASX). The company's headquarters are in Sydney, Australia.

"As QRxPharma prepares to initiate final Phase 3 studies of its lead dual-opioid product candidate, Q8003IR, for NDA submission to the FDA in 2009, we are working proactively to diversify and extend our shareholder base," said Dr. John Holaday, Managing Director and Chief Executive Officer, QRxPharma. "With the Company achieving its critical development milestones as projected and reporting positive clinical data to date, this initiative is part of a broad strategy to maximize value, provide access to U.S. investors, and increase international liquidity."

About QRxPharma

QRxPharma (ASX: QRX) is a clinical-stage specialty pharmaceutical company focused on the development and commercialization of new treatments for pain management and central nervous system (CNS) disorders. Based on a development strategy which focuses on enhancing and expanding the clinical utility of currently marketed compounds, the Company's product portfolio includes both late and early stage clinical drug candidates with the potential for reduced risk, abbreviated development paths, and improved patient outcomes. The Company intends to directly commercialize its products in the U.S. and seek strategic partnerships abroad. QRxPharma's lead compound, Q8003IR, successfully completed initial Phase 3 studies, meeting primary and secondary endpoints. The Company's preclinical and clinical pipeline includes other technologies in the fields of pain management, neurodegenerative disease and venomics. For more information: www.QRxPharma.com.

About Merriman Curhan Ford

Merriman Curhan Ford (NASDAQ: MERR) is a financial services firm focused on fast-growing companies and the institutions who invest in them. The company offers high-quality investment banking, equity research, institutional services, primary market research, asset management and corporate & venture services, and specializes in four growth industry sectors: CleanTech, Consumer/Internet/Media, Health Care and Tech/Telecom. For more information, please go to www.mcfco.com.

About International OTCQX

International OTCQX provides a gateway to U.S. securities markets for international companies that are listed on a qualified non-U.S. exchange and provide ongoing disclosure in English to U.S. investors. More importantly, International OTCQX distinguishes the reputable international issuers from the 8,000 over-the-counter (OTC) securities traded in the U.S. Only leading companies that have substantial operating businesses and provide credible disclosure to the public are eligible for inclusion on the premium-tier International OTCQX, which commenced trading on March 5, 2007. For more about International OTCQX, visit www.otcqx.com.

About Pink OTC Markets Inc.

Pink OTC Markets Inc. provides the leading inter-dealer electronic quotation and trading system in the over-the-counter (OTC) securities market. We create innovative technology and data solutions to efficiently connect market participants, improve price discovery, increase issuer disclosure, and better inform investors. Pink OTC Markets operates the third largest U.S. equity trading venue which includes both the elite OTCQX market tiers for strong OTC-traded companies that can satisfy financial and disclosure listing standards and Pink Sheets for all other OTC quoted securities.

Over 230 financial service firms, including the ten largest U.S. investment banks, actively make markets in OTCQX and Pink Sheets quoted securities and in 2007 these firms traded over $160 billion of OTCQX and Pink Sheets securities. Pink OTC Markets offers widespread access to all U.S. broker-dealers, enabling investors to seamlessly trade these securities through their institutional, online, or full service brokers.

Pink OTC Markets is headquartered in New York City.

To learn more about how Pink OTC Markets' products and services make OTC markets more transparent, informed, and efficient, please visit our websites at www.pinksheets.com and www.otcqx.com or contact us at info@pinkotc.com.

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