Spotlight Innovation subsidiary Celtic Biotech Iowa granted Patent by the U.S. Patent and Trademark Office
Crotoxin Administration for Cancer Treatment and Pain Relief
FOR IMMEDIATE RELEASE – January 15, 2015, West Des Moines, Iowa
Spotlight Innovation Inc. (OTCQB: STLT) announces that its subsidiary Celtic Biotech Iowa Inc. has been granted U.S. Patent entitled Crotoxin Administration for Cancer Treatment and Pain Relief. The invention relates to Crotoxin compositions for intravenous administration and methods of use of Crotoxin for the treatment of pain and/or for the treatment of neurologic and neuromuscular disorders.
Cris Grunewald, President and CEO of Spotlight Innovation, stated, “We are creating and protecting value for Crotoxin as we progress through clinical efficacy trials. The legal protection afforded by the exclusivity of a U.S. patent is an important component of our commercialization strategy for Crotoxin, and a significant step in our value-building strategy for Celtic Biotech Iowa.”
Dr. Paul Reid, President of Celtic Biotech Iowa, said “Approval of this patent validates the tremendous amount of research and development that has gone into the development of Crotoxin by researchers around the world. We continue to focus our efforts on shepherding Crotoxin through clinical trials to commercial product, and building the foundation for a number of potential new therapies.”
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 http://www.spotlightinnovation.com.
About Celtic Biotech Iowa Inc.
Celtic Biotech Iowa Inc., a subsidiary of Spotlight Innovation Inc., has developed novel, clinical trial-phase therapeutic products for the treatment of cancers and pain in humans. Derived from naturally specialized receptor-binding proteins, these products have the potential to reduce treatment costs, increase survivability, and improve the quality of life for cancer patients. Additional information available at http://www.celticbiotech.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.
Source: Spotlight Innovation Inc.
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Spotlight Innovation Inc.
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Spotlight Innovation Inc.
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