SOURCE: Spencer Pharmaceutical Inc.

September 01, 2010 06:30 ET

Spencer Pharmaceutical Widens Patent Protection to Address the Growing Epidemic in Diabetes Globally

BOSTON, MA--(Marketwire - September 1, 2010) - Spencer Pharmaceutical Inc. (PINKSHEETS: SPPH) announces that as a direct result of its recent very positive lab findings, it has moved forward to widen the Patent Filing for Global Patent Protection.

The management of Spencer Pharmaceutical Inc. is speeding up the process of extending the existing patent filings for the United States and Canadian geographic legal territories to also include the Global Patent Protection. This effectively will widen the umbrella of protection for the Company's Intellectual Property and will address the much larger global market for diabetes, metabolic syndrome and pain management applications for its technologies.

Economic costs of diabetes in the U.S. In 2007 saw 17.5 million people diagnosed with diabetes with a total cost of $174 billion annually. This includes $116 billion in excess medical expenditures and $58 billion in reduced national productivity with 1 in 5 health care dollars in the US spent caring for someone diagnosed with diabetes (Diabetes Care, 2008 Jun; 31). Globally, health expenditure on diabetes is expected to total at least USD 376 billion in 2010 and reach USD 490 billion by 2030. This represents 12% of the health expenditures per person spent on diabetes in 2010 globally Attn (Diabetes Res Clin Pract, Mar 2010 Center for Disease Control and Prevention, Atlanta, GA. USA).

"Following the exceptional results obtained over the Summer with our University Partners at UQAM (University of Quebec at Montreal) the Company is proceeding with the application for Global Patent Protection (GPP)," stated Dr. Max Arella, President and Chairman of Spencer Pharmaceutical Inc. "More specifically, the Company is moving to protect the platform technology focusing on gathering of claims related to the proprietary technology and its use for Type 2 Diabetes, other Metabolic Syndrome and Pain Treatment Application Management (PTAM)," further stated 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.
    1+(617) 973-5017