SOURCE: Spotlight Innovation Inc.

Spotlight Innovation Inc.

March 17, 2015 13:49 ET

Spotlight Innovation Enters Into Purchase Agreement With Memcine Pharmaceuticals

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

WEST DES MOINES, IA--(Marketwired - Mar 17, 2015) - Spotlight Innovation Inc. (OTCQB: STLT) announces that Spotlight Innovation Inc. entered into a Purchase Agreement with Coralville, Iowa-based Memcine Pharmaceuticals, Inc. Pursuant to the agreement, Spotlight Innovation will acquire a majority of the outstanding securities of Memcine Pharmaceuticals. The closing of the transaction is contingent upon several conditions including, but not limited to, completion of due diligence and entry into a shareholder agreement.

Cris Grunewald, President and CEO of Spotlight Innovation, said, "We are extremely pleased to have taken this first step with Memcine Pharmaceuticals. Their Immunoplex technology has shown enormous potential with broad applicability in both infectious diseases and oncology immunotherapy, and their mission directly supports Spotlight Innovation's goal of positively impacting the health and well-being of as many people as possible."

Said Tony Vanden Bush, PhD, co-founder, co-inventor and Chief Scientific Officer of Memcine Pharmaceuticals, "We are excited for this partnership between Spotlight Innovation and Memcine Pharmaceuticals and are looking forward to continuing the development of this promising technology for the treatment of infectious diseases and cancer."

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.

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