SOURCE: New Life Scientific, Inc.

January 16, 2007 12:42 ET

NWLS Signs Exclusive License Agreement Relating to Innovative Topical Drug Delivery

PRINCETON, NJ -- (MARKET WIRE) -- January 16, 2007 -- New Life Scientific, Inc. (OTCBB: NWLS), a company which specializes in the development of new biotechnology products and pharmaceuticals, announced today that it has entered into an exclusive license agreement for two platform technologies (patent pending) that will allow formulation of topical drugs for various applications.

The first technology involves topical formulation of prostaglandins that are temperature stable. NWLS will develop specific treatments for male erectile dysfunction (ED), formulation is intended to allow treatment of ED by simple application of PGE to glans of the penis, and female sexual arousal disorder (FSAD). The same technology will be used to formulate topical prostaglandin preparation for wound healing indication.

The second technology allows for enhanced drug bioavailability from topical applications based on modification of solvency profile of drugs that have limited solubility, e.g. itraconazole. This technology will be used for formulation of topical drugs at concentrations higher than presently available for skin and nail fungal infections and other indications.

Wieslaw Bochenek, MD, PhD, company President and Chief Scientific Officer, stated: "We are excited on the opportunity ahead of us. Presently available topical treatments for erectile dysfunction are cumbersome to use and never gained popularity. Our newly acquired technology will allow for creation of formulations that will offer ease of use and an excellent safety profile with negligible or minimal systemic effects. Wound healing and fungal skin and nail infections are major unresolved medical problems that still await more efficacious methods of treatment and which affect large numbers of people."

Company's Chairman and CEO, Henry Val, declared that the new platform technologies and the product that will be developed offer significant business opportunity for NWLS.

Erectile dysfunction (ED) denotes the inability of a man to respond to sexual stimulation with a penile erection of sufficient firmness to penetrate his partner, and to maintain that firmness through ejaculation. The National Institutes of Health estimates that more than 30 million American men suffer some degree of ED. Decision Resources Inc. estimates more than 76 million men suffer from ED in the seven most industrialized nations. At age 65, 62% of all men have some degree of erectile dysfunction -- 18% mild, 30% moderate, and 14% severe.

Female sexual arousal disorder (FSAD) is a less discussed sexual problem that continues to gain recognition and attract attention. Its main sign is persistent or recurrent inability to attain the lubrication-swelling response of sexual excitement, until completion of sexual activity. The data from the National Health and Social Life Survey indicate that approximately 30% of women report lack of sexual interest and close to 25% do not experience orgasm. Development of treatment for this condition constitutes one of the unmet needs.

About New Life Scientific, Inc. (OTCBB: NWLS): New Life Scientific, Inc. was formed with the intent to develop and commercialize novel biotech/pharmaceutical products including vaccines and stem cell based treatment modalities, and to expand through its own research, collaborations, acquisitions and in-licensing. The Company has two subsidiaries: one subsidiary, PharmaTrials International (PTI), provides clinical trial services, market research, and services to enable pharmaceutical, biotech and medical device companies worldwide to conduct research and to obtain regulatory approval of their products. The other subsidiary, Invamed Pharma, develops and commercializes pharmaceutical/biotech products coming from its own pipeline of in-licensed and reformulates existing products using proprietary technologies to improve the therapeutic potential of those drugs. Biorigen USA, a joint venture of New Life Scientific, Inc. and Biorigen Srl, an Italian biotechnology company, is involved in development of adult stem cell based therapies. Biorigen USA's major proprietary technologies include the use of biomaterials as a carrier for stem cells and growth factors, and other biomolecules to promote stem cell survival and biologic activity in tissue repair/regeneration after implantation and proprietary cell culture methods.

Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965: Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements. Such statements include, but are not limited to, certain delays that are beyond the company's control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the company's periodic filings with the Securities and Exchange Commission.

Contact Information

  • Contact:
    New Life Scientific, Inc.
    Henry Val
    Email: Email Contact
    +1.609.945.2238