National Pharmaceuticals Corp

March 11, 2011 09:01 ET

National Pharmaceuticals' Lead Therapeutic Drug, GLB333 Receives Financial Grant

MIAMI, FLORIDA--(Marketwire - March 11, 2011) - National Pharmaceuticals Corp. (PINK SHEETS:NFRM) or the "Company" is pleased to announce that its lead therapeutic drug, GLB333 was awarded a grant from Canada's National Research Council. The grant will be used toward development methods for large scale manufacturing of the drug. The grant which is awarded to Globe Laboratories, the licensor of the technology is for $30,000 for this year and can be increased significantly upon completion of preliminary feasibility studies. National has signed a letter of intent with Globe labs to license GLB333, a drug believed to be effective in vascular regeneration, organ transplant and wound healing. The product may have other therapeutic benefits, including pain management due to muscle injury and trauma.

"We are pleased with this Government financial grant for our product which further endorses the need for its rapid development and commercialization," 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 Corporation
    Elaine Affleck
    (954) 903-1967