National Pharmaceuticals Corp
PINK SHEETS : NFRM

March 01, 2011 09:02 ET

National Pharmaceuticals Corp. Signs Letter of Intent With Globe Laboratories Inc. to License a New Drug

MIAMI, FLORIDA--(Marketwire - March 1, 2011) - National Pharmaceuticals Corp. (PINK SHEETS:NFRM) or the "Company" announced today that it has signed the letter of intent ("LOI") for licensing of a novel cytokine code name "GLB333". The new cytokine is from the family of interleukins and have properties in the treatment of pain due to tissue injury, trauma and muscle and vascular injury. The product is believed to have profound effect in the treatment of many other human diseases and conditions.

Research and development on the product was carried out by Globe laboratories, a private biotech company focused on the production of recombinant proteins (www.globelabs.com).

"NFRM is currently negotiating the final commercial terms of a licensing agreement with Globe Laboratories regarding "GLB333" and the Company expects to complete this agreements hopefully within a short period," said Elaine Affleck, President of National Pharmaceuticals Corp. "This is a tremendous opportunity for our company and our shareholders to be at the forefront of this novel treatment for disabiliating diseases that affects more than 10 million people," further added Ms. Affleck.

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