INYX, INC. TO ACQUIRE PHARMAPAC UK LTD. FOR APPROXIMATELY $17 MILLION

Inyx, Inc., a specialty pharmaceutical company focused on niche drug delivery technologies and products, announced that its wholly owned subsidiary, Inyx Pharma Ltd., has executed a definitive agreement to acquire Pharmapac UK Ltd., one of the leading contract pharmaceutical production and packaging providers in the United Kingdom. The acquisition is expected to be completed by November 14, 2006. The purchase price is 9 million pounds sterling (approximately $17 million) in cash at closing plus up to another 1.5 million pounds sterling (approximately $2.9 million) in cash if certain milestones are met in 2007 and 2008. Inyx said it will use non-dilutive debt financing based on European interest rates that are significantly lower than U.S. rates to make the acquisition. BioSpace (http://www.biospace.com/news_story.aspx?StoryID=31526&full=1)