SOURCE: Spencer Pharmaceutical Inc.

June 22, 2010 08:00 ET

Spencer Pharmaceutical Inc. Announces New President

BOSTON, MA--(Marketwire - June 22, 2010) -  Spencer Pharmaceutical Inc. (PINKSHEETS: SPPH) announced today that Dr. Max Arella will be President and Chairman of the Company.

The more than 30 years experience of Dr. Arella as a University Professor, and Director of a large Research Center for 5 years is also complemented by his ability as an entrepreneur in start-up companies in the Biotech-Pharma sector.

He presents a diversified experience in sectors of academic research, scientific consultation and drug-development with small and large pharmaceutical companies. Multilingual, motivated professional oriented towards concrete results. His expertise is aimed towards an appropriate assessment of innovation, technology transfer and commercial development from university bench-top to commercial products. Dr. Arella has published in major scientific journals and presented at international conferences in Virology, Biotechnology and Molecular Biology. He has been instrumental to provide Spencer Pharmaceuticals with exciting and high-development potential technologies that will represent the core of the Company in years to come.

Mr. Ian Morrice, representing the Board of Directors of Spencer Pharmaceutical Inc., felt that the timing was right to bring someone with the necessary exposure to corporate and academic issues capable of raising the success level of Spencer Pharmaceutical Inc. as he states, "We are more than pleased to be working with Dr. Arella, whom we are convinced will enable the Company to move forward rapidly with its patented science to market our products early entry into the National and International markets that we have identified as key to our success."

Dr. Arella stated, "I am delighted to have the opportunity to work with a company that is breaking new frontiers with innovative drug release and absorption systems for the treatment of metabolic diseases." 

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
    President
    Spencer Pharmaceutical Inc.
    1+(617) 973-5017