SOURCE: Spencer Pharmaceutical, Inc.

March 10, 2011 11:26 ET

Spencer Pharmaceutical Inc. Signs Agreement With Univalor, L.P.

BOSTON, MA--(Marketwire - March 10, 2011) - Spencer Pharmaceutical Inc. (PINKSHEETS: SPPH) announces that it has signed an agreement with Polyvalor L.P., the commercial partner of Ecole Polytechnique de Montreal, to further develop the technologies protected by two patent applications developed by Professor Michael Buschmann and co-workers at Ecole Polytechnique de Montreal. 

The Company is pleased to explain that these patents are related to platform technologies for the efficient delivery of nucleic acids using chitosan as well as for an innovative discovery of therapeutic nanocomplexes for type 2 diabetes treatment in addition to other possible derivative applications.

"We are proud of having concluded this negotiation with Polyvalor and the Spencer team are looking forward to amalgamating the drug-discovery/delivery research of Dr. Buschmann's group with the ongoing pipeline of drug-delivery systems development by Spencer that are already undergoing animal studies in our Company," declared Dr. Arella, CEO of Spencer Pharmaceutical Inc.. In addition, "The technologies under development by Dr. Buschmann and his co-workers are ground-breaking discoveries and I am confident of the great value represented by these projects once they have been fully developed," further added Dr. Arella.

Management of both Spencer and Al-Dorra's subsidiaries Hail First Pharma are diligently working on the buyout transactions and continuing updates are scheduled to be released to shareholders.

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.

Polyvalor L.P. is managed by Gestion Univalor, L.P. The mission of Univalor is to accelerate the transfer to industry of the results of research undertaken by researchers from Université de Montréal, its affiliated schools and most of its affiliated hospitals. www.univalor.ca/eng/

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