SOURCE: Spotlight Innovation Inc.

Spotlight Innovation Inc.

June 08, 2015 10:44 ET

Spotlight Innovation Completes Acquisition of Memcine Pharmaceuticals

Memcine Pharmaceuticals' Immunoplex Vaccine Platform Technology Has Broad Applicability in Both Infectious Diseases and Oncology Immunotherapy

WEST DES MOINES, IA--(Marketwired - Jun 8, 2015) - Spotlight Innovation Inc. (OTCQB: STLT) announces today that it completed the acquisition of a majority ownership in Memcine Pharmaceuticals Inc., located at the University of Iowa Research Park in Coralville, Iowa. Memcine Pharmaceuticals is developing its Immunoplex™ vaccine platform technology, which is designed to use the body's own naturally occurring targeting system to deliver vaccine components to immune cells and stimulate a robust response. Memcine Pharmaceuticals has a licensing agreement for its technologies with the University of Iowa.

Cris Grunewald, President and CEO of Spotlight Innovation, said, "We are extremely pleased to be moving forward with Memcine Pharmaceuticals' innovative team and technology. Memcine Pharmaceuticals' Immunoplex technology has shown enormous potential with broad applicability in both infectious diseases and oncology immunotherapy. Memcine Pharmaceuticals' mission directly supports Spotlight Innovation's goal of positively impacting the health and well-being of as many people as possible, and we look forward to furthering the development and fulfilling the promise of this exciting, potentially life-saving technology."

Said Tony Vanden Bush, PhD, co-founder, co-inventor, Director and Chief Scientific Officer of Memcine Pharmaceuticals, "We are excited to be working with Spotlight Innovation to move the Immunoplex platform technology through development and toward clinical use for infectious disease prevention and personalized cancer immunotherapeutics."

About Spotlight Innovation Inc.

Spotlight Innovation Inc. (OTCQB: STLT) specializes in identifying, acquiring and incubating companies which have unique intellectual property (IP) in the medical sector. The Company utilizes relationships with the nation's leading academic and institutional IP developers to locate promising IP technologies with potential for market share capture. With our support, development, resources and strategic planning expertise, we believe we can develop IP that will have a positive effect on healthcare. We intend to partner with proven sector leaders on commercialization once technologies are fully developed. Additional information available at www.spotlightinnovation.com.

About Memcine Pharmaceuticals Inc.

Memcine Pharmaceuticals Inc. is an early-stage biotech company focused on enhancing vaccine efficacy to improve human and animal health globally. Memcine's Immunoplex™ technology platform uses the body's naturally occurring targeting system to deliver vaccine components. The current portfolio of potential infectious disease vaccine targets includes influenza, HepB, and Ebola. Memcine Pharmaceuticals has also conducted pre-clinical experiments in a mouse model of breast cancer, where the vaccine technology showed considerable promise as a therapeutic treatment. Additional information available at www.memcine.com.

Forward Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

Contact Information