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  <TITLE> Sipex Corporation (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	August 17, 2006
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  	Sipex Corporation
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Delaware
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  	000-27892
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  	04-6135748
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	233 South Hillview Drive, Milpitas, California
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  	95035
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  _________________________________<BR>
  	(Address of principal executive offices)
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	408-934-7500
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
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  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  	Item 1.01 Entry into a Material Definitive Agreement.
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  On August 17, 2006, the Board of Directors of Sipex Corporation ("Sipex") approved the grants of options to purchase 10,000 shares of Sipex&#x2019;s common stock (the "Options") at an exercise price of $3.35 per share, which was the closing price of Sipex&#x2019;s common stock as listed on the Pink Sheets on that date, to each of the following non-employee members of the Board of Directors: Joseph Consoli, John Arnold, Brian Hilton, Doug McBurnie, Lionel Olmer and Thomas Redfern.  The Options will vest over a one-year period in four (4) equal installments starting from July 26, 2006.  These Options will be granted pursuant to the terms of Sipex&#x2019;s form of Stand Alone Option Grant Agreement.  <br><br>
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  	SIGNATURES
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  	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.
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  	Sipex Corporation
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  <I>
  	August 21, 2006
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  	By:
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  <I>
  	Clyde R. Wallin
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  <I>
  	Name: Clyde R. Wallin
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  <I>
  	Title: Chief Financial Officer and Senior VP of Finance
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_14558.htm", "description": "LIVE FILING", "secsgml_size_bytes": 8945}]
metadata_filer: {"company-data": {"conformed-name": "SIPEX CORP", "cik": "0001007800", "assigned-sic": "3674", "irs-number": "046135748", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-27892", "film-number": "061046450"}, "business-address": {"street1": "233 SOUTH HILLVIEW DRIVE", "city": "MILPITAS", "state": "CA", "zip": "95035", "phone": "408-934-7500"}, "mail-address": {"street1": "233 SOUTH HILLVIEW DRIVE", "city": "MILPITAS", "state": "CA", "zip": "95035"}}
text: Sipex Corporation (Form: 8-K)
  UNITED STATES
  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):
  August 17, 2006
  Sipex Corporation
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  000-27892
  04-6135748
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  233 South Hillview Drive, Milpitas, California
  95035
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  408-934-7500
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  On August 17, 2006, the Board of Directors of Sipex Corporation ("Sipex") approved the grants of options to purchase 10,000 shares of Sipex's common stock (the "Options") at an exercise price of $3.35 per share, which was the closing price of Sipex's common stock as listed on the Pink Sheets on that date, to each of the following non-employee members of the Board of Directors: Joseph Consoli, John Arnold, Brian Hilton, Doug McBurnie, Lionel Olmer and Thomas Redfern.  The Options will vest over a one-year period in four (4) equal installments starting from July 26, 2006.  These Options will be granted pursuant to the terms of Sipex's form of Stand Alone Option Grant Agreement.
  Top of the Form
  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 hereunto duly authorized.
  Sipex Corporation
  August 21, 2006
  By:
  Clyde R. Wallin
  Name: Clyde R. Wallin
  Title: Chief Financial Officer and Senior VP of Finance