SOURCE: Spencer Pharmaceutical Inc.

August 24, 2010 06:30 ET

Spencer Pharmaceutical Announces Outstanding Results

BOSTON, MA--(Marketwire - August 24, 2010) - Spencer Pharmaceutical Inc. (PINKSHEETS: SPPH) announced today its results for their Diabetes (Metformin) platform being conducted at their research lab at the University of Quebec at Montreal (UQAM).

Spencer Pharmaceutical management is proud to announce that the new lab results obtained for its new proprietary formulation of Metformin, a widely prescribed Diabetes drug, showed outstanding results. "When compared to the existing commercial formulations our tablet showed significant advantages to the incumbent technologies," stated CEO Dr. Max Arella.

Given that Diabetes is the sixth leading cause of death in the US, Spencer Pharmaceutical is well positioned to address the growth of this market with its proprietary "controlled release" technology. The global diabetes market was worth $18.6bn in 2005, which was an 11.5% increase from 2004 sales of $16.6bn.

"We were able to formulate monolithic tablets at a very low cost without the use of special equipment," commented Dr. Arella.

"The significance and success of these results provide Spencer with the ability to move to the next steps which will be to 'animal models' which we strongly believe will expose the underlying value of the technology," stated Dr. Arella.

The release time with our tablets of succinyl-chitosan is about 12 h which is about 50 % greater than the release time (about 8 h) of the commercial formulations. This is an important improvement. Another major improvement is that the swelling of our tablets is definitely less than that of commercial forms and thus tablets are not retained in the stomach. They continue their intestinal transit allowing the release not only at the level of stomach, duodenum and jejunum but also at the other segments of intestinal tract.

About Spencer Pharmaceutical Inc.

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.

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.

Contact Information

  • Contact:
    Dr. Max Arella
    Spencer Pharmaceutical Inc.
    1+(617) 973-5017