SOURCE: Spring Creek Healthcare Systems, Inc.

Spring Creek Healthcare Systems, Inc.

November 15, 2010 11:20 ET

Spring Creek HealthCare Systems, Inc. Announces Letter of Agreement (LOA) for Its DelRX Pharmaceutical Corp. Subsidiary's Proprietary Drug Delivery System

Spring Creek's Subsidiary, DelRX Pharmaceutical Corp. Signs LOA to License Its Proprietary Drug Delivery System to TheraBiogen, Inc. for Oral Delivery of Their Homeopathic Products

NEW YORK, NY--(Marketwire - November 15, 2010) - Spring Creek (OTCBB: SCRK) announces that its wholly owned subsidiary, DelRX Pharmaceutical Corp., has signed an LOA for licensing its proprietary drug delivery system to TheraBiogen, Inc., an affiliate company. The DelRX system delivers homeopathics and critical therapeutic drugs through the oral mucosa of the buccal cavity. Kelly T. Hickel, CEO says "We have been nurturing this program for some time and are very pleased to sign this license agreement. The DelRX delivery platform will enable a product line extension for TheraBiogen allowing them to meet consumer preferences for nasal or oral delivery." The two companies will begin product implementation as soon as practicable.

DelRx Corporation has proprietary platform drug delivery technology for transmucosal administration of large molecule drugs as a liquid dispersion, e.g., peptides like insulin, monoclonal antibodies, hormones, vaccines and other proteins as well as homeopathic formulations. These macro-molecular drugs cannot be administered orally and are injected, usually with a needle and syringe or by intravenous infusion. If DelRx's oral drug delivery technology provides comparable clinical efficacy to injections, then this has the potential to offer significant improvements in the quality of life (pain free, needle free therapy), with reduced side effects for diabetics and other patients.

About Spring Creek Healthcare Systems, Inc.

Spring Creek Healthcare Systems, Inc. is a healthcare solutions company whose business plan is to distribute cutting edge solutions for the medical, pharmaceutical and healthcare markets to resellers and consumers worldwide. Spring Creek actively pursues emerging opportunities in the healthcare industry by selecting young start-up and micro-cap companies with innovative concepts and launching these products and services utilizing the marketing distribution network of Spring Creek's principal subsidiary, Stratis Healthcare Inc. Through Stratis, Spring Creek will distribute the products of its portfolio companies either directly to consumers, through distributors or through multi-channel resources.

About TheraBiogen, Inc.

TheraBiogen, Inc. (OTCBB: TRAB) is the manufacturer and distributor of homeopathic nasal sprays for aiding in the relief of cold, flu and allergies. The products are made from natural, homeopathic ingredients and contain no zinc, which has been identified as potentially causing nasal problems in other similar products on the market. For further information please visit www.theramaxrelief.com.

Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Investors are cautioned that these forward-looking statements involve uncertainties and risks that could cause actual performance and results of operations to differ materially from those anticipated. These risks and uncertainties include issues related to the ability to: obtain sufficient funding to continue operations, maintain adequate cash flow, profitably exploit new ventures, as well as other factors set forth in Spring Creek's most recently filed Form 10-K and Form 10-Q reports. The forward-looking statements contained herein represent the Company's judgment as of the date of this release and it cautions readers not to place undue reliance on such statements. Spring Creek Capital assumes no obligation to update the statements contained in this release.

Contact Information

  • Company Contact:
    Spring Creek Healthcare Systems, Inc.
    Kelly T. Hickel
    Chairman and CEO
    646-896-3050
    Email Contact