SOURCE: FPS Pharma Inc.

FPS Pharma Inc.

August 15, 2016 10:58 ET

FPS Pharma Asia Receives a Positive Response From the Ministry of Health, Nutrition and Indigenous Medicine for Sri Lanka

WEST KELOWNA, BC--(Marketwired - August 15, 2016) - FPS PHARMA INC. ("FPS Pharma") is pleased to announce that FPS Pharma Asia Limited ("FPS-PAL" or the "Company"), a wholly owned Hong Kong subsidiary, has received a positive response to the "Short Business Brief" submitted to the Ministry of Health, Nutrition and Indigenous Medicine (the "Ministry") on July 11, 2016.

FPS-PAL submitted a "Short Business Brief" to the Ministry for Sri Lanka to obtain preliminary approval for the Company to carry on its pharmaceutical compounding business in Sri Lanka. In this regard, the Ministry has engaged the services of Premium International Technologies (PVT) Ltd. ("PIT") to work with the Ministry and the Company to move this process forward. FPS-PAL has received preliminary comments from PIT and is in the process of responding to same. Once all approvals have been obtained from the Ministry, it is the Company's intention to begin the process of setting up an FPS-PAL compounding facility in Sri Lanka to supply our pharmaceutical compounding products to the Company's new distributor for Sri Lanka.

In addition to the local Sri Lankan market, it is the Distributor's intention to provide and export our pharmaceutical compounding products to countries that Sri Lanka has trade agreements with which include India.

Dr. Ronald Aung-Din, M.D., the inventor of the technology behind the IP Rights, and a shareholder of AfGin Pharma Licensing, LLC, has practiced General Neurology and Neuro-Psychiatry in Sarasota, FL for 25 years. He is board-certified by the American Board of Psychiatry and Neurology, and a member of the American Academy of Neurology.

Dr. Aung-Din has developed a unique drug delivery system involving the topical application of medications for the treatment of:

  • migraine and other chronic headache conditions ("Topical Therapy for Migraine"),
  • Parkinson's Disease ("Topical Regional Neuro-Affective Therapy"), and
  • diabetic peripheral neuropathy, chemotherapy related peripheral neuropathy, hereditary peripheral neuropathies, and certain other peripheral neuropathic processes ("Topical Peripheral Neuro-Affective ("TPNA") Therapy for Neuropathic Conditions.

We look forward to working with Mr. Earle Hickey, our new distributor in Sri Lanka in what the Company believes is a tremendous business opportunity.

ON BEHALF OF THE BOARD OF DIRECTORS

"James R. Brown"

James R. Brown, President

Contact Information

  • For further information please contact
    James R. Brown
    778-754-3000