SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C. 20549


                                  FORM 8-K


                               CURRENT REPORT

   Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934




    Date of Report (Date of Earliest Event Reported)  July 18, 1996	


    QUADRAX CORPORATION		
   (Exact Name of Registrant as Specified in Charter)


    Delaware				                0-16052					            05-0420158
   (State or               (Commission File Number)    (IRS Employer
   Other Jurisdiction						 			                         Identification       
   of Incorporation)                                    No.)
									


  300 High Point Avenue,  			                     Portsmouth, RI  02871	
  (Address of Principal Executive Offices)					            	  (Zip Code)
	

  Registrant's telephone number, including area code     (401) 683-6600	


                        					Not Applicable						
       (Former Name or Former Address, If Changed Since Last Report)
	





   ITEM 5.  Other Events

        On July 18, 1996, Registrant issued a press release 
    announcing that it had received an initial order from 
    Cannondale Corporation (NASDAQ - BIKE), the manufacturer of 
    high performance bicycles.  

      Quadrax will provide Cannondale with lightweight, 
    thermoplastic composite handlebars to be marketed under 
    their high-end "CODA" component division for after-market 
    sales and also for use on one line of Cannondale's high-end 
    mountain bikes.  See the Company's press release attached as 
    Exhibit No. 99.1




    (c)  Exhibits.

     Ex-	99.1    Company's press release dated July 18, 1996.


                                       Signatures

        	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 thereunto duly authorized.


						
                                               	Quadrax Corporation




              July 30, 1996                		/s/ James J. Palermo		
                  (Date)	                  		James J. Palermo, Chairman 
                                          			and Chief Executive Officer



             July 30, 1996            	     	/s/ Edward A. Stoltenberg			
                  (Date)		                  	Edward A. Stoltenberg, Chief 		
                                          			Financial Officer and Principal 
                                          			Accounting Officer