Inyx Inc · 8-K · For 6/16/04 · EX-99.1

Filed On 6/29/04 12:26pm ET   ·   SEC File 333-83152   ·   Accession Number 1010549-4-413

Current Report   ·   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         2     10K 
 2: EX-10.24    Supply Agreement Dated June 11, 2004                  32    119K 
 3: EX-99.1     Press Release Dated June 29, 2004                      2     13K 

EX-99.1   ·   Press Release Dated June 29, 2004

EX-99.1
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                                                                    Exhibit 99.1

                                           PRESS RELEASE - FOR IMMEDIATE RELEASE

INYX SELECTED BY ASTRAZENECA
TO DEVELOP AND PRODUCE NON-OZONE-DEPLETING
 HFA-`PULMICORT' ASTHMA SPRAY FOR EUROPEAN MARKETS
 - Initial Multi-Year, Contract Valued At Over $6.5 Million Annually to Inyx

NEW YORK - June 29, 2004 - Inyx,  Inc.  (OTC BB:  IYXI),  an emerging  specialty
pharmaceutical  company  with a focus on niche drug  delivery  technologies  and
products,  announced  today that it has been  awarded a  multi-year  contract by
AstraZeneca  AB, a major  international  healthcare  company,  to  assist in the
development  and  production  of a non-ozone  depleting  hydrofluoralkane  (HFA)
version of AstraZeneca's Pulmicort asthma spray for European markets.           

Based on an initial three and a half-year contract, which has extension options,
Inyx's  wholly  owned  United  Kingdom  subsidiary,  INyX Pharma  Limited,  will
immediately  commence  development and  commercialization  work on AstraZeneca's
HFA-version  of Pulmicort,  one of the world's  leading  asthma  medicines.  The
contract is valued at over $6.5 million annually to Inyx, based on present sales
of the  chlorofluorocarbon  (CFC)  version of  Pulmicort.  Subject to regulatory
approval in European  markets,  commercial  production is planned to commence in
the first quarter of 2005.                                                      

Pulmicort  is an  inhaled  anti-inflammatory  glucocorticosteroid  (budesonide),
primarily for once- or twice-daily maintenance treatment of asthma. Pulmicort is
also  indicated for the treatment of chronic  obstructive  pulmonary  disease in
some countries.  The World Health Organization  estimates that approximately 100
million  people  worldwide  suffer from  asthma,  and that  chronic  obstructive
pulmonary  disease is the fourth greatest cause of death  worldwide.  Currently,
Pulmicort utilizes CFC as an aerosol gas propellant, which is an ozone-depleting
agent. The European Union has implemented a ban on  ozone-depleting  agents such
as CFC in pharmaceutical products.                                              

Dr. Jack  Kachkar,  Chairman and  President  of Inyx,  said,  "We are  extremely
gratified to have been selected by AstraZeneca for their  HFA-Pulmicort  program
in Europe.  This contract  reflects  Inyx's  expertise in converting CFC aerosol
pharmaceuticals to HFA drug delivery products, as we have already conducted such
conversion for other clients in Europe and Canada.                              

"The selection by AstraZeneca," he added, "is a significant  milestone event for
Inyx."                                                                          

AstraZeneca  is  a  major  international  healthcare  business  engaged  in  the
research, development, manufacture and marketing of prescription pharmaceuticals
and  the  supply  of  healthcare  services.  It is one of  the  world's  leading
pharmaceutical companies with healthcare sales of over $18.8 billion and leading
positions in sales of gastrointestinal,  oncology, cardiovascular,  neuroscience
and respiratory products. The company currently employs over 11,600 people at 11
R&D centres in seven countries,  including the U.K.,  Sweden,  the U.S., Canada,
France, India and Japan.                                                        

EX-99.1
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About Inyx                                                                      

Inyx, Inc. is an emerging  specialty  pharmaceutical  company with niche aerosol
drug delivery technologies and products.  Inyx focuses its expertise on contract
manufacturing of prescription and over-the-counter  pharmaceutical products, and
provides specialty pharmaceutical development and production consulting services
to the international  healthcare market. In addition, Inyx is developing its own
proprietary  products to be marketed by selected clients and strategic partners.
The company's operations are conducted through its wholly owned subsidiary, INyX
Pharma  Limited,  with a  focus  on  niche  products  and  technologies  for the
treatment of respiratory,  allergy,  dermatological and topical conditions. INyX
Pharma's  client  base  comprises  large  ethical  pharmaceutical  corporations,
branded generic  companies and  biotechnology  firms.  The company  develops and
manufactures for a majority of global markets, including: North America, Europe,
Latin America and the Middle East.  INyX Pharma's R&D and production  facilities
are in Runcorn, near Manchester,  England. Another wholly owned subsidiary, Inyx
Canada,  Inc.  based in  Toronto,  provides  business  development  and  support
services. Inyx, Inc.'s corporate offices are in New York City.                  

Safe Harbor                                                                     

Statements  about the Company's future  expectations,  including future revenues
and  earnings,  and all  other  statements  in this  press  release  other  than
historical facts, are "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of
1934, and as that term is defined in the Private  Securities  Litigation  Reform
Act of 1995. The Company intends that such forward-looking statements be subject
to the safe harbors created thereby.  Since these  statements  involve risks and
uncertainties  and are  subject  to  change at any time,  the  Company's  actual
results could differ materially from expected results.                          

For more information, please contact:                                           

Jay M. Green, Executive Vice President                                          

Dates Referenced Herein   and   Documents Incorporated By Reference

				Referenced-On Page
This 8-K Filing		Date		First		Last			Other Filings
For The Period Ended		6/16/04
Filed On / Filed As Of		6/29/04		1
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