Spotlight Innovation Subsidiary Celtic Biotech Iowa, Inc. Completes Merger With Celtic Biotech Ltd.
June 10 2014 - 5:43PM
Marketwired
Spotlight Innovation Subsidiary Celtic Biotech Iowa, Inc. Completes
Merger With Celtic Biotech Ltd.
Celtic Biotech Ltd. Developing Cancer Therapy and Analgesic
Products
WEST DES MOINES, IA--(Marketwired - Jun 10, 2014) - Spotlight
Innovation, Inc. (OTCQB: STLT) today announced that effective June
4, 2014, Celtic Biotech Iowa, Inc. (a subsidiary of Spotlight
Innovation, Inc.) has completed a share exchange agreement with
biopharmaceutical company Celtic Biotech Ltd.
Pursuant to the share exchange agreement, Celtic Biotech Ltd. is
a subsidiary of Celtic Biotech Iowa, Inc., and gains access to
Spotlight Innovation's intellectual property commercialization and
business development expertise.
Paul F. Reid, Ph.D., co-founder of Celtic Biotech Ltd., said,
"With this new relationship, we are positioned to continue
developing a suite of cancer treatment and pain therapies that have
been progressing through clinical trials. We are tremendously
excited and motivated to bring these highly-promising products to
bear in the fight against cancer."
Cristopher Grunewald, President and CEO of Spotlight Innovation
and Director of Celtic Biotech Iowa, said, "Celtic Biotech Iowa's
mission directly supports our goal of positively impacting the
health and well-being of as many people as possible. Celtic Biotech
Ltd.'s novel, development-stage cancer and pain therapeutic
products for treatment in humans, derived from naturally
specialized receptor-binding proteins, have the potential to reduce
treatment costs, increase survivability, and improve the quality of
life for cancer patients. We look forward to fulfilling their
promise."
About Spotlight Innovation, Inc.
Spotlight Innovation, Inc. provides solutions for
healthcare-focused companies commercializing healthcare
intellectual property developed by major centers of academia in the
United States. The company focuses on identifying, validating and
acquiring/cooperating with early stage companies developing
healthcare technologies including pharmaceuticals, devices and
equipment, diagnostic products and healthcare IT. Additional
information available at www.spotlightinnovation.com.
About Celtic Biotech Iowa, Inc.
Celtic Biotech Iowa, Inc. is a subsidiary of Spotlight
Innovation, Inc. Additional information available at
www.spotlightinnovation.com/celticbiotech.
About Celtic Biotech, Ltd.
Celtic Biotech Ltd has developed novel, clinical trial-phase
therapeutic products for the treatment of cancers and pain in
humans. Derived from naturally specialized receptor-binding
proteins, these products have the potential to reduce treatment
costs, increase survivability, and improve the quality of life for
cancer patients.
Forward Looking Statements
Certain statements in this news release may contain
forward-looking information within the meaning of Rule 175 under
the Securities Act of 1933 and Rule 3b-6 under the Securities
Exchange Act of 1934, and are subject to the safe harbor created by
those rules. All statements, other than statements of fact,
included in this release, including, without limitation, statements
regarding potential future plans and objectives of the company, are
forward-looking statements that involve risks and uncertainties.
There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ
materially from those anticipated in such statements. Technical
complications, which may arise, could prevent the prompt
implementation of any strategically significant plan(s) outlined
above. The Company undertakes no duty to revise or update any
forward-looking statements to reflect events or circumstances after
the date of this release.
Press Contact Rene Erickson Spotlight Innovation, Inc.
1-505-274-9087 corpcomm@spotlightinnovation.com Investor Relations
Contact Mike Reysak Spotlight Innovation, Inc. 1-505-274-9087
investor.relations@spotlightinnovation.com