SOURCE: Spencer Pharmaceutical, Inc.

October 25, 2010 06:15 ET

Spencer Pharmaceutical Licensing Talks Expands to USA, Canada and Is Exploring Various European Opportunities

BOSTON, MA--(Marketwire - October 25, 2010) -  Spencer Pharmaceutical Inc. (PINKSHEETS: SPPH) announced today that it has begun licensing talks with several other pharmaceuticals to manufacture and distribute its Met4 formula in their respective regions.

According to management, the company has signed confidentiality agreements with several companies and has begun talks over the distribution and formulations of its MET4 and Ibuprofen formulations as well as the co-development of several new formulations. The company expects to be in a position to sign a memorandum of understanding and or licensing agreements on or before February 10, 2011. 

"Our formulation is very easy to manufacture compared to existing formulations, in addition to being better for the patient therefore making the MET4 ideal for licensing," said Dr. Max Arella, President of Spencer Pharmaceutical Inc. "The licensing for our Met4 to these companies could yield substantial financial results in the very short term for our company and can be the driving force in making Spencer a world class pharmaceutical," further 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.

Contact Information

  • Contact:
    Dr. Max Arella
    Spencer Pharmaceutical Inc.
    Tel. 1+(617) 973-5017