National Pharmaceuticals Corp

March 22, 2011 16:00 ET

National Pharmaceuticals Completes Licensing of GLB333 From Globe Labs

MIAMI, FLORIDA--(Marketwire - March 22, 2011) - National Pharmaceuticals Corp. (PINK SHEETS:NFRM) or the "Company" announced today that it has completed the licensing of GLB333 from Globe Laboratories. NFRM obtained the worldwide exclusive license to the use and marketing of a cytokine that is shown to have profound effects on the management of pain due to trauma, wound, and accidents, as well as autoimmune conditions. The product under the internal name GLB333 has a different mechanism of action to current pain killers or analgesics. It helps to rebuild the damage tissues, reduces inflammatory conditions and help to regenerate good and healthy muscle and soft tissues. Globe Laboratories has worked on the biology and use of the product for several years and has spent considerable resources on its development. The license is for twenty years and carries standard terms and conditions used by other companies in this sector.

"We are pleased to obtain the exclusive license to the technology on worldwide basis for GLB333. The product that has considerable data already, will be ready for clinical trials Phase I/II in near future," said Elaine Affleck, President of National Pharmaceuticals Corp.

About National Pharmaceuticals Corp.

National Pharmaceuticals Corp. is a Pharmaceutical Research and Development Corporation focused on leading edge technologies for treatment of human diseases. The company has embarked into the business of licensing mid stage development drugs for further development and marketing worldwide.

Forward-looking Statements - Important Information about Forward-Looking Statements in this press release is 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.

Contact Information

  • National Pharmaceuticals Corp.
    Elaine Affleck
    (954) 903-1967