WEST DES MOINES, IA--(NewMediaWire - Dec 3, 2015) -
Spotlight Innovation Inc. (OTCQB: STLT)
announces that it has formed CDT Veterinary Therapeutics, Inc., a
subsidiary company to develop cancer therapeutics for the
veterinary market. CDT Veterinary Therapeutics is Spotlight
Innovation's third subsidiary company, joining Celtic Biotech and
Memcine Pharmaceuticals.
CDT Veterinary Therapeutics is currently focused on the
commercialization of Crotalin, a protein fraction purified from the
venom of the tropical rattlesnake Crotalus durissus
terrificus. Crotalin is comprised of cytotoxic proteins
that have been shown in animal studies to be highly toxic to a
variety of cancer cell lines and has the potential to be an
effective cancer therapeutic in companion animals.
Cris Grunewald, President and CEO of Spotlight Innovation, said,
"The veterinary cancer therapeutics market for companion animals
represents an opportunity with lower barriers of entry and a
pathway to revenue. We are excited to be moving forward with CDT
Veterinary Therapeutics and beginning our exploration of this
market."
Veterinary medicine is a natural market to begin
commercialization efforts, noted Dr. Paul Reid, President of CDT
Veterinary Therapeutics. "As drug development incorporates a
multitude of animal studies, it makes sense to assess the
veterinary market opportunity as we continue with our human
trials," Dr. Reid said. "Human trials have three phases of clinical
development, whereas single trials predominate marketing
authorizations in the veterinary space."
Pets are living longer and healthier lives, and are frequently
reaching advanced age. Much like their human counterparts, the
incidence of cancer and other aliments increases as they grow
older. The American Pet Products Association (APPA) estimates that
there are 77.8 million pet dogs and 85.8 million pet cats in the
United States. According to the American Veterinary Medical
Association, cancer accounts for almost half of the deaths of pets
over 10 years of age. While dogs get cancer at roughly the same
rate as humans, cats have a somewhat lower incidence rate. As
veterinary medicine becomes more sophisticated -- including the
introduction of diagnostic technologies, treatments and surgeries
once reserved for people -- expenditures for companion animal
veterinary care are increasing. According to the APPA, veterinary
care costs were $15.04 billion in the U.S. in 2014, up from $10.1
billion in 2007. In response to increasing costs, the North
American Pet Health Insurance Association reports double-digit
increases in companion animal healthcare insurance policies each
year since 2009 and a 14.6% increase in policies from 2012 to 2013
with an estimated 2013 North American market size of $595
million.
As interest in the comparison of cancer across species --
comparative oncology -- has increased, so has the infrastructure to
support animal research studies. One example is The Comparative
Oncology Trials Consortium (COTC), a network of twenty academic
comparative oncology centers, centrally managed by the
NIH-NCI-Center for Cancer Research's Comparative Oncology Program.
COTC member institutions design and execute clinical trials in dogs
with cancer to assess novel therapies with the goal of informing
the development path of these agents for future use in human cancer
patients.
About Crotalin
Crotalin is a protein fraction purified from the venom of the
tropical rattlesnake Crotalus durissus
terrificus. Crotalin is comprised of cytotoxic proteins
that have been shown in animal studies to be highly toxic to a
variety of cancer cell lines and has the potential to be an
effective cancer therapeutic in companion animals.
About Spotlight Innovation Inc.
Spotlight Innovation Inc. (OTCQB: STLT)
identifies, acquires and incubates companies that have unique
intellectual property (IP) in the medical sector. The Company has
relationships with the nation's leading academic and institutional
IP developers, and locates promising IP technologies with potential
for market share capture. With strong support, development,
resources and strategic planning expertise, we believe we can
develop IP that will have a positive effect on healthcare. We
partner with proven sector leaders on commercialization once
technologies are fully developed. Additional information available
at www.spotlightinnovation.com.
About CDT Veterinary Therapeutics, Inc.
CDT Veterinary Therapeutics, Inc., a subsidiary of Spotlight
Innovation Inc., was formed for the development of novel products
for the treatment of cancers in animals for the veterinary market.
Its first anticipated product, Crotalin, is a protein fraction
purified from the venom of the tropical
rattlesnake Crotalus durissus.
About Celtic Biotech Iowa, Inc.
Celtic Biotech Iowa, Inc., a subsidiary of Spotlight Innovation
Inc., is developing novel, clinical trial-phase 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. Additional
information available at www.celticbiotech.com.
About Memcine Pharmaceuticals, Inc.
Memcine Pharmaceuticals, Inc., is an early-stage biotech company
focused on enhancing vaccine efficacy to improve human and animal
health globally. Memcine's Immunoplex™ immunotherapy technology
platform uses the body's naturally occurring targeting system to
deliver vaccine components. The current portfolio of potential
infectious disease vaccine targets includes influenza, HepB, and
Ebola. Memcine Pharmaceuticals has also conducted pre-clinical
experiments in a mouse model of breast cancer, where the vaccine
technology showed considerable promise as a therapeutic treatment.
Additional information available at www.memcine.com.
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.
Photographs of Crotalus durissus are
available for the media upon request from DresnerAllenCaron by
contacting Rudy Barrio at 212-691-8087.