Spotlight Innovation subsidiary Celtic Biotech product EPISORB available to compounding pharmacy industry
EPISORB is a proprietary drug formulation developed to facilitate topical delivery of drugs
FOR IMMEDIATE RELEASE – April 6, 2015, West Des Moines, Iowa
Spotlight Innovation Inc. (OTCQB: STLT) announces that the product EPISORB, developed by its subsidiary Celtic Biotech Iowa, Inc., has been registered with the U.S. Food and Drug Administration and has been incorporated into the Pharmacy Benefit Managers (PBM) database referenced by health insurance companies when reimbursing drugs. The product makes use of the attributes of cardiotoxin as a cell penetrating peptide and is intended for distribution through the compounding pharmacy industry.
Cris Grunewald, President and CEO of Spotlight Innovation, stated, “EPISORB is a transdermal delivery platform, and is a viable alternative to the current topical bases used by the compounding pharmacy industry when preparing analgesic or scar reduction creams. We are excited to be making this product available to the compounding pharmacy industry and to have demonstrated that we can successful navigate regulatory and distribution requirements.”
Dr. Paul Reid, President of Celtic Biotech, said, “This is the first step in our product development program. We intend to maximize the value of our pipeline as we advance our lead products through the required clinical programs.”
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., is developing novel, clinical trial-phase 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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