EXIBIT 10.9.1
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                                OPTION AGREEMENT
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      This  Option  Agreement  (the  "Agreement")  is  made as of the 6th day of
March, 2003, by and between Stiefel  Laboratories,  Inc., a New York corporation
("Stiefel"),  and INyX Pharma,  Limited.,  a company organized under the laws of
England and Wales (the "Company").

                                    RECITALS
                                    --------

      WHEREAS,   the  Company  and  Stiefel  have  entered  into  a  certain  6%
Convertible  Promissory  Note due March 6, 2007 (the  "Note"),  for an aggregate
principal amount of GBP2,500,000 (the "Principal Amount");

      WHEREAS, pursuant to the terms and conditions of the Note, Stiefel may, at
any  time  during  the  life of the  Note,  convert  the  entirety  of the  then
outstanding  Principal  Amount  into  equity  securities  of  the  Company  (the
"Conversion Shares");

      WHEREAS,  upon Stiefel's  conversion of the entire Principal Amount of the
Note into Conversion Shares,  Stiefel's Conversion Shares shall represent twenty
percent  (20%) of the  rights to vote at general  meetings  of the  Company  and
twenty percent (20%) of the right to receive amounts  distributed by the Company
by way of dividend or other  distribution of the Company's  assets (the "Maximum
Stiefel Percentage Interest"), and if the Company pays down the Principal Amount
on  the  Note,  the  Maximum  Stiefel  Percentage  Interest  shall  be  adjusted
proportionately (the "Adjusted Stiefel Percentage Interest");

      WHEREAS,  Stiefel  desires to have the option to  purchase  that amount of
equity  shares of the Company that are  required for Stiefel to maintain  either
the Maximum  Stiefel  Percentage  Interest or the  Adjusted  Stiefel  Percentage
Interest (as applicable); and

      WHEREAS,  as a condition  precedent and material inducement for Stiefel to
extend the  Principal  Amount to the Company  pursuant to the Note,  the Company
must execute and deliver this Agreement to Stiefel.

      NOW  THEREFORE,  in  consideration  of the above  recitals  and the mutual
covenants, representations,  warranties and agreements set forth herein, and for
the purpose of defining  the terms and  provisions  of this  Agreement,  and for
other good and valuable  consideration,  the receipt and sufficiency of which is
hereby acknowledged,  the parties hereto intending to be legally bound do hereby
agree as follows:

                                    AGREEMENT
                                    ---------

      1. Definitions.  Capitalized terms used herein are used as defined in this
Section 1 or as  defined  elsewhere  in this  Agreement.  For  purposes  of this
Agreement:

            (a)  The  term  "Business  Day"  shall  mean  any day on  which  the
commercial banks in the City of Miami, Florida and London,  England are open for
business.

            (b) The term "Dilutive Event" shall mean any issuance by the Company
of any class of its equity securities or debt or equity  securities  convertible
into any class of its equity  securities (an "Equity Issue") or any other action
by the Company (other than the repayment of the Note) that would have the effect
of  reducing  the  percentage  of  the  Company's   Outstanding   Capital  Stock

<PAGE>

represented by the Conversion  Shares to a percentage  below the Maximum Stiefel
Percentage Interest or the Adjusted Stiefel Percentage Interest (as applicable).

            (c) The term  "Fair  Market  Price"  shall mean such price as may be
agreed between the Company and Stiefel or, in the event that agreement cannot be
reached,  the price which an  Independent  Expert states in writing to be in its
opinion  the fair value of the shares  concerned  on a sale as between a willing
seller  and  a  willing  purchaser  and  in  determining  such  fair  value  the
Independent Expert shall be instructed in particular:

                  (i) to have regard to the rights and restrictions  attached to
            such  shares  in  respect  of  income,  capital  and  voting  but to
            disregard any other special rights or restrictions  attached to such
            shares;

                  (ii) to disregard  whether such shares represent a minority or
            a majority interest; and

                  (iii) if the  Company is then  carrying on business as a going
            concern, to assume that it will continue to do so,

      and the  Independent  Expert shall be considered to be acting as an expert
      and not as an arbitrator and its decision shall be final and binding.

            (d) The term "Independent  Expert" shall mean an independent firm of
accountants,  investment bankers or a similar suitably qualified organization to
be mutually agreed upon by the parties.

            (e) The term "Option  Price" shall mean the price per share at which
equity  securities are sold pursuant to an Equity Issue  constituting a Dilutive
Event or, if there is no Equity  Issue,  the Fair  Market  Price of the  subject
equity securities relating to the subject Dilutive Event.

            (f) The term "Option  Shares" shall mean that amount of any class of
the  Company's  equity  shares that  represent  the Maximum  Stiefel  Percentage
Interest or the Adjusted  Stiefel  Percentage  Interest (as  applicable)  of the
total number of equity  securities  of the Company that are issued in connection
with a subject Dilutive Event.

            (g) The term  "Outstanding  Capital  Stock" shall mean, at any time,
the issued and  outstanding  shares of capital  stock of the  Company on a fully
diluted basis (i.e. all issued equity shares of the Company and all those equity
shares of the Company  which are issuable  upon the  exercise of options,  puts,
convertible debentures, warrants or other securities exercisable or exchangeable
in respect of or for the Company's equity shares).

      2. Option.
         ------

            (a) During the period commencing on the date that Stiefel shall have
converted the Principal Amount of the Note into Conversion Shares until the date
that  Stiefel  shall  no  longer  be a  holder  of any of the  Company's  equity
securities (the "Option Period"), Stiefel may exercise, from time to time during

<PAGE>

the Option Period and subject to the terms and conditions  contained herein, the
option to acquire the Option  Shares for the Option  Price (the  "Option").  The
exercise by Stiefel of the Option shall entitle  Stiefel to purchase,  and shall
require the Company to sell, the Option Shares as herein provided.

            (b)  During the Option  Period,  the  Company  shall  provide  prior
written notice to Stiefel of any Dilutive Event (a "Dilutive Event Notice").

            (c) The  Option may be  exercised  by Stiefel as to all or less than
all of the Option  Shares at any time  during the Option  Period by  delivery of
written  notice(s) from Stiefel to the Company (the "Notice of Exercise") at the
address  specified on the signature  page hereto  designating  the number of and
description of the desired class of Option Shares to be purchased and a date and
time for closing the purchase and sale of such Option Shares  (each,  a "Closing
Date"),  which date and time shall not be earlier  than the close of business on
the 5th Business  Day, nor later than the close of business on the 10th Business
Day,  following  delivery by Stiefel of the Notice of Exercise  pursuant to this
paragraph.

            (d) Upon the exercise of the Option by Stiefel, the Option Price (or
the  corresponding  proportionate  amount of the Option Price in the event of an
exercise of the Option for less than all of the Option  Shares) shall be paid by
Stiefel to the  Company on the  Closing  Date by wire  transfer  of  immediately
available  funds. In exchange for the payment by Stiefel of the Option Price (or
the lesser  proportionate  purchase price), the Company shall deliver to Stiefel
certificates evidencing the Option Shares described in the Notice of Exercise in
proper  form for  transfer,  free and clear of any claims,  security  interests,
liens and  encumbrances  of any kind,  except as  provided  by law and/or in the
Stockholders Agreement.

      3.  Closing of Option.  The  closing of each  purchase  and sale of Option
Shares  hereunder upon the exercise of the Option (each,  a "Closing")  shall be
held at the principal  offices of the Company on the date and time  specified in
the Notice of Exercise.

      4.  Representations  and  Warranties  of the Company.  The Company  hereby
represents and warrants to Stiefel as of the date hereof:

            4.1 Authority.  It has full right, power and authority to enter into
this  Agreement,  and this  Agreement  has been duly  authorized,  executed  and
delivered by it and  constitutes the legal,  valid and binding  agreement of the
Company  enforceable against the Company in accordance with its terms (except in
all  cases as such  enforceability  may be  limited  by  applicable  bankruptcy,
insolvency,   reorganization,   moratorium,   or  similar  laws   affecting  the
enforcement of creditors'  rights  generally and except that the availability of
the equitable remedy of specific  performance or injunctive relief is subject to
the discretion of the court before which any proceeding may be brought).

            4.2 Actions Pending. There is no action, suit, claim,  investigation
or proceeding pending or, to the knowledge of the Company, threatened against it
which questions the validity of this Agreement and the transactions contemplated
hereby  or  thereby,  or any  action  taken or to be taken  pursuant  hereto  or
thereto.

<PAGE>


            4.3 No Conflicts.  The execution and delivery of this Agreement does
not, and the  consummation  of the  transactions  contemplated  hereby will not,
conflict  with, or result in any breach  pursuant to any provision of any of the
constituent  documents  of the  Company or result in any breach of any  material
loan or credit agreement,  note,  mortgage,  indenture,  lease,  pension plan or
other agreement or obligation of the Company or its properties or assets.

      5. Miscellaneous.
         -------------

            5.1  Impairment.  The Company  will not, by amendment of its charter
documents or through reorganization,  consolidation,  merger, dissolution, issue
or sale of securities,  sale of assets or any other voluntary  action,  avoid or
seek  to  avoid  the  observance  or  performance  of any of the  terms  of this
Agreement. The Company shall not take any steps in relation to its share capital
which would have the effect of reducing the Option Price payable per share below
par value.

            5.2 Issue of Shares.  The Company  shall,  during the Option Period,
ensure that the Company  maintains  sufficient  authorized  but  unissued  share
capital and other  authorities  and powers of  directors of the Company and take
all other requisite  action to enable the prompt issue of shares pursuant to any
exercise of the Option.

            5.3 Further  Assurances.  Subject to the terms and conditions herein
provided,  each of the parties  hereto agrees to use all  reasonable  efforts to
take,  or cause to be taken,  all  action  and to do,  or cause to be done,  all
things  necessary,  proper or  advisable  to  consummate  and make  effective as
promptly  as  practicable  the  transactions  contemplated  by  this  Agreement,
including,  without  limitation,  using all  reasonable  efforts  to obtain  all
necessary   waivers,   consents  and  approvals  and  to  effect  all  necessary
registrations and filings.

            5.4  Parties  in  Interest.   All  representations,   covenants  and
agreements  contained  in this  Agreement  by or on behalf of any of the parties
hereto  shall bind and inure to the  benefit of the  respective  successors  and
assigns of the parties hereto whether so expressed or not.

            5.5  Amendments  and  Waivers.  Any  term of this  Agreement  may be
amended or waived in writing  and only with the  written  consent of Stiefel and
the Company.

            5.6 Notices.  Unless otherwise  provided herein, any notice required
or  permitted  by this  Agreement  shall  be in  writing  and  shall  be  deemed
sufficient upon delivery,  when delivered  personally or by overnight courier or
sent by telegram or fax, or five (5) Business Days after being  deposited in the
U.S. mail as certified or registered mail with postage prepaid, and addressed to
the party to be  notified  at such  party's  address  or fax number as set forth
below or as subsequently modified by written notice.

            5.7  Severability.  If one or more  provisions of this Agreement are
held to be unenforceable  under applicable law. The parties agree to renegotiate
such  provision  in good  faith.  In the event that the parties  cannot  reach a
mutually agreeable and enforceable replacement for such provision, then (a) such
provision  shall  be  excluded  from  this  Agreement,  (b) the  balance  of the
Agreement shall be interpreted as if such provision were so excluded and (c) the
balance of the Agreement shall be enforceable in accordance with its terms.

<PAGE>


            5.8  Governing  Law. This  Agreement  and all acts and  transactions
pursuant hereto shall be governed,  construed and interpreted in accordance with
the laws of the  State  of  Florida  without  giving  effect  to  principles  of
conflicts of laws.

            5.9  Counterparts.  This  Agreement  may be  executed in two or more
counterparts,  each of  which  shall be  deemed  an  original,  but all of which
together shall constitute one and the same instrument.

            5.10 Titles and  Subtitles.  The titles and  subtitles  used in this
Agreement  are  used  for  convenience  only  and  are not to be  considered  in
construing or interpreting this Agreement.

            5.11  Expenses.  Each  party  hereto  will pay its own  expenses  in
connection  with  the  transactions  contemplated  hereby,  whether  or not such
transactions  shall be  consummated;  provided  that, if any action at law or in
equity is  necessary to enforce or interpret  the terms of this  Agreement,  the
prevailing  party shall be  entitled to  reasonable  attorneys'  fees,  cost and
necessary  disbursements in addition to any other relief to which such party may
be entitled.

            5.12  Entire  Agreement.  This  Agreement  constitutes  the full and
entire  understanding  and  agreement  between  the  parties  with regard to the
subject  matter  hereof.  5.13 Survival of Agreement.  All  representations  and
warranties made herein or in any agreement,  certificate or instrument delivered
to Stiefel  pursuant to or in connection  with this Agreement  shall survive the
execution and delivery of this Agreement and the issuance,  sale and delivery of
the Option Shares.

            5.14  Brokerage.  Each party hereto will indemnify and hold harmless
the  others  against  and in  respect  of  any  claim  for  brokerage  or  other
commissions  relative  to this  Agreement  or to the  transactions  contemplated
hereby,  based in any way on agreements,  arrangements or understandings made or
claimed to have been made by such party with any third party.



                            [signature page follows]



<PAGE>


The  parties  have  executed  this Option  Agreement  as of the date first above
written.

                              STIEFEL LABORATORIES, INC.


                              By /s/ Tessie L. Brunken
                                ------------------------------------------------
                              Name:  Tessie L. Brunken
                              Title: Vice President, CFO and Treasurer
                              Address: 255 Alhambra Circle Coral Gables, Florida
                              Fax:






                              INYX PHARMA, LTD.


                              By: /s/ Steve Handley
                                 -----------------------------------------------
                              Name:  Steve Handley
                              Title: Director
                              Address: 6 Seymour Court, Manor Park
                                       Runicorn
                                       Cheshire, England
                              Fax: 01928 579212