Spencer Pharmaceutical Inc. Signs Agreement With Univalor, L.P.
March 10 2011 - 11:25AM
Marketwired
Spencer Pharmaceutical Inc. (PINKSHEETS: SPPH) announces that it
has signed an agreement with Polyvalor L.P., the commercial partner
of Ecole Polytechnique de Montreal, to further develop the
technologies protected by two patent applications developed by
Professor Michael Buschmann and co-workers at Ecole Polytechnique
de Montreal.
The Company is pleased to explain that these patents are related
to platform technologies for the efficient delivery of nucleic
acids using chitosan as well as for an innovative discovery of
therapeutic nanocomplexes for type 2 diabetes treatment in addition
to other possible derivative applications.
"We are proud of having concluded this negotiation with
Polyvalor and the Spencer team are looking forward to amalgamating
the drug-discovery/delivery research of Dr. Buschmann's group with
the ongoing pipeline of drug-delivery systems development by
Spencer that are already undergoing animal studies in our Company,"
declared Dr. Arella, CEO of Spencer Pharmaceutical Inc.. In
addition, "The technologies under development by Dr. Buschmann and
his co-workers are ground-breaking discoveries and I am confident
of the great value represented by these projects once they have
been fully developed," further added Dr. Arella.
Management of both Spencer and Al-Dorra's subsidiaries Hail
First Pharma are diligently working on the buyout transactions and
continuing updates are scheduled to be released to
shareholders.
Spencer Pharmaceutical Inc. is a US based Pharmaceutical
Research and Development Corporation, which is developing
innovative drug release and absorption systems for the treatment of
metabolic diseases such as diabetes and metabolic syndrome.
Polyvalor L.P. is managed by Gestion Univalor, L.P. The mission
of Univalor is to accelerate the transfer to industry of the
results of research undertaken by researchers from Université de
Montréal, its affiliated schools and most of its affiliated
hospitals. www.univalor.ca/eng/
Important Information
About Forward-Looking Statements in this
press release may be "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Words such as "anticipate," "believe," "estimate," "expect,"
"intend" and similar expressions, as they relate to the company or
its management, identify forward-looking statements. These
statements are based on current expectations, estimates and
projections about the company's business based, in part, on
assumptions made by management. These statements are not guarantees
of future performance and involve risks, uncertainties and
assumptions that are difficult to predict. Therefore, actual
outcomes and results may, and probably will, differ materially from
what is expressed or forecasted in such forward-looking statements
due to numerous factors, including those described above. In
addition, such statements could be affected by risks and
uncertainties related to the exploration for and development of
mineralized material, product demand, market and customer
acceptance, competition, pricing and development difficulties, as
well as general industry and market conditions and growth rates and
general economic conditions. Any forward-looking statements speak
only as of the date on which they are made, and the company does
not undertake any obligation to update any forward-looking
statement to reflect events or circumstances after the date of this
release. Information on the Company's website does not constitute a
part of this release. Although there is an offer currently coming
from a third party, the Company can provide no assurances that the
offer will be made, the timelines achieved, or the minimum offer
will be realized.
Contact: Ian Morrice Executive Vice President and
Director Spencer Pharmaceutical Inc. 1+(617) 973-5017
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