SOURCE: Spencer Pharmaceutical Inc.

March 02, 2011 15:02 ET

Spencer Pharmaceutical Inc. Announces Submission of Patent Application Covering a New Technology of Dual Release Rate of Anti-Inflammatory Drugs

BOSTON, MA--(Marketwire - March 2, 2011) - Spencer Pharmaceutical Inc. (PINKSHEETS: SPPH) is pleased to announce the submission of a patent application covering a technology of dual release rate of anti-inflammatory drugs.

Results obtained by the group lead by Dr. Mateescu and Dr. Tien Canh Le showed that our technology can produce monolithic tablets rapidly liberating an effective dose of anti-inflammatory drug and then sustaining the release for a longer duration. To the best of our knowledge, these results are unique for monolithic tablets and, we believe, can be extended to various drugs widely used in the market. The patent also covers the use of our technology in several anti-inflammatory drugs that can be formulated both as fast and sustainable dual release. The excipients used are all GRAS (generally recognized as safe).

"The Company would like to thank the tremendous work of Dr. Mateescu and Dr. Tien Canh Le and their team who we believe have made a breakthrough in the delivery of pain relief in this multibillion dollar medical sector," stated Dr. Max Arella, Chairman and CEO of Spencer Pharmaceutical Inc., Furthermore "It is important to our shareholders to realize, that while we are progressing through the due diligence phase of the offer previously disclosed, we are committed to science first and that Spencer has many other opportunities which we will be developing in the near to medium term which, we believe, will add great value to our Company," added Dr. Arella. 

About Spencer Pharmaceutical Inc.

Spencer Pharmaceutical Inc. is a US-based Pharmaceutical Research and Development Corporation, which is developing innovative drug release and absorption systems for the treatment of metabolic diseases such as diabetes and metabolic syndrome.

Important Information

About Forward-Looking Statements in this press release may be "forward-looking statements" 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. In addition, such statements could be affected by risks and uncertainties related to the exploration for and development of mineralized material, product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on the Company's website does not constitute a part of this release. Although there is an offer currently coming from a third party, the Company can provide no assurances that the offer will be made, the timelines achieved, or the minimum offer will be realized.

Contact Information

  • Contact:

    Ian Morrice
    Executive Vice President and Director
    Spencer Pharmaceutical Inc.
    1+(617) 973-5017