-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 FJFqDwzgs2l4+uRTYdMrfUGd0uNv1/CkgKSPUDh5z4hBDmcrDfVV4GmJUVpbzGkV
 M8XH43P4oARgdkZEl8nWaA==

<SEC-DOCUMENT>0000890163-07-000147.txt : 20070222
<SEC-HEADER>0000890163-07-000147.hdr.sgml : 20070222
<ACCEPTANCE-DATETIME>20070222103637
ACCESSION NUMBER:		0000890163-07-000147
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20070220
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070222
DATE AS OF CHANGE:		20070222

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIPEX PHARMACEUTICALS, INC.
		CENTRAL INDEX KEY:			0000894158
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				133808303
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12584
		FILM NUMBER:		07640782

	BUSINESS ADDRESS:	
		STREET 1:		3985 RESEARCH PARK DRIVE
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48108
		BUSINESS PHONE:		734-332-7800

	MAIL ADDRESS:	
		STREET 1:		3985 RESEARCH PARK DRIVE
		CITY:			ANN ARBOR
		STATE:			MI
		ZIP:			48108

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SHEFFIELD PHARMACEUTICALS INC
		DATE OF NAME CHANGE:	19970730

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SHEFFIELD MEDICAL TECHNOLOGIES INC
		DATE OF NAME CHANGE:	19940606
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>s11-7137_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE> </TITLE>
</HEAD>
<BODY bgcolor="#ffffff">




<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font SIZE=2>UNITED STATES</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font SIZE=2>SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font SIZE=2>WASHINGTON, D.C. 20549</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font SIZE=3>FORM 8-K</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font SIZE=2>CURRENT REPORT</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>Date of Report (date of earliest event reported): February 20, 2007</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=5>Pipex Pharmaceuticals, Inc.</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(Exact name of registrant as specified in charter)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font size=2>Delaware</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>(State or other jurisdiction of incorporation)</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="103%" style='border-collapse:collapse'>
    <tr >
        <td width="48%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>01-12584 &nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(Commission File Number)</font></p> </td>
        <td width="51%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>13-3808303 &nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(IRS Employer Identification No.)</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="101%" style='margin-left:5.4pt;border-collapse:collapse'>
    <tr >
        <td width="29%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="38%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>3985 Research Park Drive</font></b></p> </td>
        <td width="32%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td> </tr>
    <tr >
        <td width="29%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="38%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Ann Arbor, MI 48108</font></b></p> </td>
        <td width="32%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td> </tr>
    <tr >
        <td width="29%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="38%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="32%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td> </tr>
    <tr style='height:5.4pt'>
        <td width="29%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:8.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38%" valign=top style='border-top:solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt; height:5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:8.5pt;margin-bottom:0pt'><font size=2>(Address of principal executive offices and zip code)</font></p> </td>
        <td width="32%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:8.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="29%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="32%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="29%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(734) 332-7800</font></p> </td>
        <td width="32%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:5.4pt'>
        <td width="29%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="38%" valign=top style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt;height:5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="32%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr style='height:18.9pt'>
        <td width="29%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:18.9pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:8.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38%" valign=top style='padding:0in 5.4pt 0in 5.4pt;height:18.9pt'>
            <p style='margin-left:0pt;text-indent:29.25pt;text-align:center;margin-top:8.5pt;margin-bottom:0pt'><font size=2>(Registrant&#146;s telephone number including area code)</font></p> </td>
        <td width="32%" valign=top style='padding:0in 5.4pt 0in 5.4pt; height:18.9pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:8.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="29%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="32%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="29%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font SIZE=2>N/A</font></p> </td>
        <td width="32%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="29%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td>
        <td width="38%" valign=top style='border-bottom: solid black 1.0pt; padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="32%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0in;text-indent:0pt;text-align:center;margin-top:1.0pt;margin-bottom:0in'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="29%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:8.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="38%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:18.75pt;text-align:center;margin-top:8.5pt;margin-bottom:0pt'><font size=2>(Former Name and Former Address)</font></p> </td>
        <td width="32%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:center;margin-top:8.5pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="80%" STYLE="border-collapse:collapse" ALIGN="CENTER">
    <tr >
        <TD WIDTH="4%" VALIGN="TOP">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face=Wingdings>o</font></p> </td>
        <TD WIDTH="95%" VALIGN="TOP">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p> </td> </tr>
    <tr >
        <td width="4%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face=Wingdings>o</font></p> </td>
        <td width="95%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)</font></p> </td> </tr>
    <tr >
        <td width="4%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face=Wingdings>o</font></p> </td>
        <td width="95%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="4%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font face=Wingdings>o</font></p> </td>
        <td width="95%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:8.5pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="97%" STYLE="border-collapse:collapse">
    <tr >
        <TD WIDTH="10%" VALIGN="TOP" STYLE="padding:0in 5.4pt 0in 5.4pt;">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Item 5.02 -</font></b><b></b></p> </td>
        <TD WIDTH="87%" VALIGN="TOP" STYLE="padding:0in 5.4pt 0in 5.4pt">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Departure of Directors or Certain Officers; Election of Directors; </font></b></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font></b><b></b></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>On February 20, 2007, Pipex Pharmaceuticals, Inc., a Delaware corporation (the &#147;Registrant") issued the attached press release announcing the appointment of Daniel J. Dorman and James S. Kuo, Md., M.B.A. to the Board of Directors of the Registrant. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="97%" STYLE="border-collapse:collapse">
    <tr >
        <TD WIDTH="10%" VALIGN="TOP" STYLE="padding:0in 5.4pt 0in 5.4pt;">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Item 9.01</font></b></p> </td>
        <TD WIDTH="87%" VALIGN="TOP" STYLE="padding:0in 5.4pt 0in 5.4pt">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b><font size=2>Financial Statements and Exhibits.</font></b></p> </td> </tr>
    <tr >
        <TD VALIGN="TOP" STYLE="padding:0in 5.4pt 0in 5.4pt;">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="87%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td> </tr>
    <tr >
        <TD VALIGN="TOP" STYLE="padding:0in 5.4pt 0in 5.4pt;">
            <p style='margin-left:0pt;text-indent:2.0pt;text-align:center;margin-top:0pt;margin-bottom:0pt'><font size=2>(d)</font></p> </td>
        <td width="87%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Exhibits.</font></p> </td> </tr>
    <tr >
        <TD VALIGN="TOP" STYLE="padding:0in 5.4pt 0in 5.4pt;">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="87%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td> </tr>
    <tr >
        <TD VALIGN="TOP" STYLE="padding:0in 5.4pt 0in 5.4pt;">
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><b>&nbsp;</b></p> </td>
        <td width="87%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Exhibit 99.1 Press Release issued by Pipex Pharmaceuticals, Inc. dated February 20, 2007.</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:0.77in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font SIZE=2>SIGNATURES</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="100%" style='border-collapse:collapse'>
    <tr >
        <td width="50%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Dated:  February 21, 2007</font></p> </td>
        <td width="50%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Pipex Pharmaceuticals, Inc</font></u></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>(Registrant)</font></p> </td> </tr>
    <tr >
        <td width="50%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="50%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="50%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>By:&nbsp; </font><u><font size=2>/s/ Steve H. Kanzer&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></u><font size=2>&nbsp;</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Name: Steve H. Kanzer</font></p>
<p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Title: Chief Executive Officer</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="23" style='margin-left:2.5in;border-collapse:collapse'>
    <tr >
        <td width="100%" valign=top >
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>.</font></u></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font SIZE=2>EXHIBIT INDEX</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="98%" style='border-collapse:collapse'>
    <tr >
        <td width="19%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Exhibit No</font></u><font size=2>.</font></p> </td>
        <td width="80%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><u><font size=2>Exhibits.</font></u></p> </td> </tr>
    <tr >
        <td width="19%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td>
        <td width="80%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=1>&nbsp;</font></p> </td> </tr>
    <tr >
        <td width="19%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>99.1</font>                           </p> </td>
        <td width="80%" valign=top style='padding:0in 5.4pt 0in 5.4pt'>
            <p style='margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0pt;margin-bottom:0pt'><font size=2>Press Release issued by Pipex Pharmaceuticals, Inc. dated February 20, 2007</font></p> </td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt; margin-left:1in; text-indent:0.5in;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'>
</p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">



</BODY>
</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>s11-7137_ex99.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:right;'><b><font size=2>Exhibit 99.1</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><img src="img1.jpg"><br> </p>

<p style=' margin-bottom:3pt; margin-top:12pt;text-align:center;'><b><font size=2>Pipex Pharmaceuticals, Inc.  Announces the Appointment of Daniel J. Dorman and James S. Kuo, M.D., M.B.A. to the Board of Directors</font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:justify;'><font size=2>Ann Arbor, Michigan, February 20, 2007 -- Pipex Pharmaceuticals, Inc. (OTC BB: PPXP), a specialty pharmaceutical company developing innovative late-stage drug candidates for the treatment of neurologic and fibrotic diseases, announced today the appointment of Daniel J. Dorman and Dr. James S. Kuo to the board of directors of Pipex.  </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:justify;'><font size=2>Mr. Dorman is a partner in AFA Private Equity Fund I, an international private equity fund which participated in Pipex&#146;s most recent private placement.  </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>"With several late-stage products under development, increased board guidance from Mr. Dorman and Dr. Kuo in the areas of strategic alliances, financing, sales and marketing, will be very beneficial to achieving our goals," said Steve H. Kanzer, Pipex&#146;s Chairman &amp; Chief Executive Officer.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Mr. Kanzer went onto say, &#147;This board expansion fulfills our independence requirements for listing on a national securities exchange for which we have already applied and are currently pending.&#148; </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>About Mr. Dorman</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Daniel J. Dorman is the President of D. J. Dorman &amp; Co., Inc. and its predecessor companies since 1989. D. J. Dorman &amp; Co., Inc. originates, structures, acquires and manages investments in private equity and buyout opportunities on behalf of several entities. Mr. Dorman is also Chairman and CEO of Dorman Industries, LLC which is a privately owned multi-industry holding company. Additionally, Mr. Dorman is a director of Kux Manufacturing Company, Inc., an architectural engineering and manufacturing company; Chairman of Kroll International, LLC, a wholesaler of law enforcement</font><b><font size=2>, </font></b><font size=2>homeland defense and public safety equipment; Chairman of Versatile Processing Group, Inc., a holding company for various non-ferrous metal processing and utility service companies serving the industrial and electric utility industries and a director of an international private
equity fund, AFA Private Equity Fund I.  Mr. Dorman is a graduate of Ferris State University where he holds a Bachelor in Business Administration.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>About Dr. Kuo</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>James S. Kuo, M.D., M.B.A. is the President and Chief Executive Officer of Cysteine Pharma, Inc.  From 2003 to 2006, he served as founder, Chairman and Chief Executive Officer of BioMicro Systems, Inc. a private venture-backed, microfluidics company. From 2001 to 2002, he served as President and Chief Executive Officer of Microbiotix, Inc., a private, anti-infectives drug development company. Prior to that time, Dr. Kuo was co-founder, President and Chief Executive Officer of Discovery Laboratories, Inc. where he raised over $22 million in initial private funding and took the company public. He has held senior licensing and business development positions at Pfizer, Inc., and Myriad Genetics, Inc. Dr. Kuo has also been the Managing Director of Venture Analysis at HealthCare Ventures, LLC and Vice President at Paramount Capital Investments, LLC.&nbsp; Dr. Kuo is further a founder of ArgiNOx Pharmaceuticals,
Inc., and Monarch Labs. LLC., and is non-executive Chairman of DOR BioPharma, Inc., a publicly traded pharmaceutical company.  Dr. Kuo simultaneously received his M.D. from the University of Pennsylvania School of Medicine and his M.B.A. from the Wharton School of Business. </font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>
<br>
<HR noshade align="center" width="100%" size="2">
<p style='page-break-before:always'></p>
<pAGE>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:left;'><b><font size=2>About Pipex Pharmaceuticals, Inc. </font></b></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:justify;'><font size=2>Pipex Pharmaceuticals, Inc. is a specialty pharmaceutical company that is developing proprietary, late-stage drug candidates for the treatment of neurologic and fibrotic diseases  Pipex&#146;s strategy is to exclusively in-license proprietary, clinical-stage drug candidates and complete the further clinical testing, manufacturing and regulatory requirements sufficient to seek marketing authorizations via the filing of New Drug Applications (NDAs) with the FDA in the U.S. and Marketing Application Authorizations (MAAs) with the European Medicines Evaluation Agency (EMEA).  For further information, please visit, www.pipexpharma.com.  </font></p>

<p style=' margin-bottom:5pt; margin-top:5pt;text-align:justify;'><font size=2>This press release contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, that reflect Pipex Pharmaceuticals, Inc. (&#147;we&#148; or &#147;our&#148;) current expectations about its future results, performance, prospects and opportunities such as a listing on a national securities exchange.  Where possible, the Company has tried to identify these forward-looking statements by using words such as "anticipates," "believes," "intends," or similar expressions. These statements are subject to a number of risks, uncertainties and other factors that could cause actual events or results in future periods to differ materially from what is expressed in, or implied by, these statements. We cannot assure you that we will be able to successfully develop or commercialize products based on our technologies, including COPREXA&#153;, TRIMESTA&#153;, SOLOVAX&#153;,
EFFIRMA&#153; or Anti-CD4 802-2, particularly in light of the significant uncertainty inherent in developing, manufacturing and conducting preclinical and clinical trials of new pharmaceuticals, and obtaining regulatory approvals, that our technologies will prove to be safe and effective, that our cash expenditures will not exceed projected levels, that we will be able to obtain future financing or funds when needed, that product development and commercialization efforts will not be reduced or discontinued due to difficulties or delays in clinical trials or due to lack of progress or positive results from research and development efforts, that we will be able to successfully obtain any further grants and awards, maintain our existing grants which are subject to performance, that we will be able to patent, register or protect our technology from challenge and products from competition or maintain or expand our license agreements with our current licensors, or that our business strategy
will be successful. All forward-looking statements made in this press release are made as of the date hereof, and the Company assumes no obligation to update the forward-looking statements included in this news release whether as a result of new information, future events, or otherwise. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward- looking statements.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>For Further Information Contact:</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Steve H. Kanzer, CPA, Esq.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Chairman and Chief Executive Officer</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>(734) 332-7800</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>Charles Bisgaier, Ph.D.</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>President</font></p>


<table border="0" cellspacing=0 cellpadding=0 width="101" style='border-collapse:collapse'>
    <tr >
        <td width="100%" valign=top >
            <p ><font size=2>(734) 332-7800  </font></p></td> </tr></table>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>


<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font size=2>&nbsp;</font></p>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>img1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 img1.jpg
M_]C_X``02D9)1@`!`0$`8`!@``#_VP!#``H'!P@'!@H("`@+"@H+#A@0#@T-
M#AT5%A$8(Q\E)"(?(B$F*S<O)BDT*2$B,$$Q-#D[/CX^)2Y$24,\2#<]/CO_
MVP!#`0H+"PX-#AP0$!P[*"(H.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SL[
M.SL[.SL[.SL[.SL[.SL[.SL[.SL[.SO_P``1"`!G`9(#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#V:BBB@`HH
MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBDH`6BBB@`HI*6@`I**\VUSQ-K
MEIJ>H10:@Z1PS,J`1IA1V'(II7&E<]*HJ&U8O;1.QRS(I)]\5+2$+1110`44
M4E`"T4E+0`444E`"T444`%%%%`!1110`444E`"T4E+0`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!2'I2T4`><>)]7O+7Q
M'>0KK-Q;1H$V1I(`!\HSVK$;Q%J8)QK]R0#P?.'^%>N/:V\CEY((G8]2R`FD
M^Q6A_P"76'_OV*KF\_R_R&G;H>1CQ'JAS_Q/KKZB84G_``D6J8YUZZX])A7K
MOV*T_P"?6'_OV*/L5I_SZP_]^Q1S>?Y?Y%<R['F.G>*]>@=634!>K_SRG`(;
M_@0Y!KT+0]:M]<L!<P@HRG;+$WWHV]#6+XPT"S&ES:E;01P7-OART:A=ZYY!
M]:R?!T[0^)C&O"7=N=XS_$O0_D34WN]26T>A5Y+XB5CJVJOF',<[8#6L39Z=
M25S7K5>0>(V/]NZHH/6=ZJ+M^'YCBKGK-F/]$A_ZYK_*LKQA<2VOANYG@N&M
MY%*8D5MI'SCO6M:?\></_7-?Y5(Z)(I5U#*>H89%):,D\@DUZ]!PFOWK?]MS
M49U_4\`'6[WN?^/@UZ_]DM_^?>+_`+X%`M;<=((_^^!3OYO\/\BE*W0\?.O:
ME_T&KWGI_I#?XT^+Q!J@E79K=X&ST,VX?D<UZ]]F@_YX1_\`?`J&YTRQNXC%
M/:02(>"&C%'-Y_E_D/F78Y+0/&=S]HAM=8VNLK;8[I%VC)Z!QTY]17;CI7E6
MM:3'IVI7NF*&:`*'BR<[5(Z?@?TKT/P]=O?>'K"YD)+O"NXD=2."?TJ+D7U(
M/$7B"+0[9,1^==3$B&$-C=ZDGL!7GVH>)];GE;S]4DB'_/.`B-5]@1R?SJ[X
MGN3+XDU&=_F%LJPH#T`QD_F2:U$MH?"_A:#4X[*WNKZ=DWO/T&_G`/8"J5[V
M7]?>5%KL<>=6OC@'5K_(Y_X^I!_6E_M:^'35+[_P+D_QKHW\=ZI&VU],T\>^
M6IO_``L#4^^G:?\`FU.Z_F_&/^1IK_*<_'JMRY^?5]07Z73_`.-=+X*O))_$
M/EG4+JX3[.Q*S3.PSD<X--3QYJLC;4TZPX]2U;'ASQ+?:IK'V*[M+2(>29-T
M).>"!CGZT7WUO]WZ(SEOJK'43DBWD(/(0_RKR&/4I6MD,NL:BDA&2!<2<'\Z
M]BZT@11T4#\*E.R_K];DGC<FI78(V:I?LOK]JD_QJ:U\0:K:ONMM6N<]2LLA
MD!_!LUZ]M7T'Y5FZUH=EJ]G)'-"GF8)CEVC<C=B#33??\O\`(TYUV.1E^(-X
MVFB..U1+TG#3=8P/[P7KGV/ZUSUQKFIW$Q:?5[MG]$E*`?@N,57AA-Q/#;@[
M7ED6+<!G:2<9_6O7M-TJRTN!8;2WCC4#!(4;F/J3W-"D_3^O,;Y8]+GE"ZK.
M`"^K7Z_]O,G/ZU8MM2E^UVHCU6_D8SQ@JUQ(006%>MX'H*-H]!23=[W_`"_R
M,V[A2T44""BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"D/
M`I:2@#`?QQH".R&[DW(2"!`_4'![4W_A._#W_/W)_P"`\G^%<(WF$ND6-TET
MT8)Z#+XY_.M5_`6NOD^;8`G_`*:/_P#$T^KT_'_@#C9[LZ;_`(3KP[_S^/\`
M^`\G^%)_PG?A_.!<RY_Z]W_PKF?^$`UPX_>6/_?U_P#XF@?#_6\_ZVQ7W$C_
M`/Q-&G;\?^`7RP[ECQ'XNCUFU.G:?%*L,C#S9I!MRHYP!U_&I?`]DUSJLVH@
M$P6\9AC;^\YQNQ]`/UIUC\/I?,!U#4`T?>*!",^VX]OH*[.TL[>QMDMK6)8H
M8QA$4<`4B&ET)J\@\2@G7-4(''GOS7K]<+JO@S5K[4+V>&6S6*YD+`.6W`>^
M!37^7YCB[':VG_'G#_US7^55-6URPT1(GOI'02L539&7R0,]A5VW0QP1HW)5
M0./I7)^/1\VE]?\`6OT_W:7FR'HB[_PGOA__`)^)OQMW_P`*#X]\/CK<R_A`
M_P#A7':=H&H^(#<&TGMD6WDV-YNX$G&>P/:KP^'NL=[NR_-_\*:]/Q_X!HE&
MVK.B_P"$]\/_`//S+_WX?_"H;CXA:*B'R!<W#XX58BH/XG&*P_\`A7NKG/\`
MIED/^^_\*='\.M2W`R:A:H/58V8_KBGIV_'_`(`6AW,>[N[K4[V:Z>,F]O6"
M10QG('91^`ZFO4-*LAIVE6MD&W>1$J%O4@<G\ZS="\)V>C/]H+M<W9&/.D`&
MWU"CM_.MT=*DC2^AYUXOLFLM>EF88M]14$-V$@7!!_#G\ZBMO$%C+HJ:)K\%
MRT,!&R>W/)`Z9[\=.*]!U#3K75+1K6\A66%^JGL>Q!['WKCKKX=RB5C9ZG^[
MS\JW$>Y@/]X'G\J$[,<5'J9FWP*<?/JIS_UTH*^!1QNU3_Q^K:_#S4A_R_V@
M_P"V;4?\*[U+_H(6O_?MJJ_E^/\`P"_=[E7'@@#C^U_P#UL^%?\`A&_[8/\`
M9(OQ<^2<_:`VW;D9Z_A5-/`.JQ_=O[//KY;_`.-:WA_PO?Z3JOVRZNX)E$)C
M`C1@>2#W/M1?^K_\`B7D=0[!$+'H!DUS(^(.B$9"WA';_1FYKI95+QNHZD$5
MPD?@35XXEB&I6>U?^F3?XU*V$:W_``L'1,X*WF?>W-9VL^/8YK22WTNWF#R*
M5\^9=H3/<#J34+?#[4G^]J-J?^V3?XU);_#F0R#[5J@"=Q##@GZ$DX_*G\OQ
M_P"`7[G<XM3L<*DFQTP5(/S*1T-=W8?$.W$"IJ5G<),!AGA4.C'UZY'TK8D\
M(:-)I:Z?]DV1H=RR*?W@;NV[N?KQ7/S?#F?S"8-40KGCS8#G'N0?Z"I6FF_]
M?,IRC+<U!\0-%/1+P_2W/%/C\=Z3)+'&(KT&1PB[K<@9)Q6,GP^U&/&W5+<?
M]L#_`(U/'X&O_.A>74H&6.19"!"03@Y]:K2^WX_\`S=NAVU+24M(04444`%%
M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4AI:0TF!Y*O,\?I]O\`
M3_II7K5<E_P@<?V@2G5;@JLWFA#&N,[MV*ZT=.:I_JQ)6%HHHI#"BBB@`HHH
MH`*Y#QX1G2SG&)F[?[-=?6/K^@)KB0*UU+;&!BP:,`DY&.]'=>HFKJQC_#_[
MFJ<$?Z0O_H(KI=3OO[.L'NO*:8J54(I`+%F"CD^YJEX?T!-`CG1+F6X\]P[-
M(H!!`QVJUK.GG5-,DLPRCS&0G=G&`X)''L*K2^I4;75R.RU8W+W<,]J]M<6@
M#21E@P(()!!'T-$&M07']G;%.;]2RC<"4^3=S_*IH-,M;.VFALX4A\W.XCDL
M<8R3U-9UCX:AL7TJ6&*VCELT*S/''@R93;U^O/-/W2O=U+EYK$-GJMII[QNS
M76?W@^['_=W?4@@?2C4-2FM;N"UMK)KJ69&?`D5``N`>O^\*I:CX<EOY[N[^
MV21W#%#;!7(1-G*;AW^;)_&K&IZ%#JU[!+>(DD,<,D90YSEMO(/X&CW=!^[H
M)+X@A3PV=;CMY9(PN?)&-Y.[:1Z9S2R^(;5+K3+>-'E_M(91EQA%VY!;Z]*!
MI4Y\.PZ8\D7FQ"-=ZKA2%8'I[@?G5.U\,RVUVDWVE76*\\R)2/N0A7P@^C.?
MPH]T:4-31U#6(=.O;.UDC=S=/MW+TC'`!;V)('XT[4=3-G-!;06S7-U<;C'$
MK!>%^\Q)Z`9'YBJ.J>'6U6XNIY+N2-GB6.W$;E0NWY@6'?YN?P%6;ZPO9+BR
MO[9X?M=LC(ZR9".K`;AD<CE011:.@K1T%FUCR=%;46LYE=6"&!\*P;<%QGIC
M)Z],5-;7MQ);2S75G]G\L$A1*K[@!GMTJI>Z9>WWAZ2RN)X9KJ1@S%E(CX<-
MMP.<8&/6I]/LI8;.6VFM[2W1\[5M2<<CDG('-+2PO=L+#JL<PT\B-Q]OC+ID
MCY0%W<_G40U:[.L_V=_9C8"[_.\Y<;,XW8Z_A4.G:5?PS6(NY+?RM/B,<1BW
M;I,@*"<].!TYYJ_]B?\`MHWV]=AMA#M[YW9S1H#Y4.BO5EU*>R",&@C20L>A
M#%@/_035*WUUKFX0QV$YLI93$ET"""P)&2O4+D$9JU#9/%K%U>EU*3PQ1A>X
M*ER?_0A5*QTW4[$Q6<5S`MA#*SA@"960DD(1T')Z^@HT#W2S>:S#9:I9V#QN
MS71(WK]V/^[N^IX%3R7JQZC!9%&+31NX;L-N/_BJR]2\.2:A/=W1O)(YWV?9
M@KD(FSYEW#O\V35K4+._?4+2]L_LQ>&-T=)F8`[MO((!_NT[(+1T'ZKJPTUK
M:)8#-/=.4B3>$&0"3ECP.!^-6K.X>YMEEDMY+=SD-')C*D'';@CWJEJEC=7]
MI"ABLYL<S6]PNZ-^.QQD$'H<4_0].DTO31;2R!SO9@JDE8P3D(N><#IS2TL#
MMR^9HT4E+4D!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!
M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%
M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444
M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110
M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!
21110`4444`%%%%`!1110!__9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
