Spotlight Innovation subsidiary Celtic Biotech Iowa licenses promising therapy for Chronic Kidney Disease
Chronic Kidney Disease (CKD) therapy showing substantive results in animal studies
FOR IMMEDIATE RELEASE – March 10, 2015, West Des Moines, Iowa
Spotlight Innovation Inc. (OTCQB: STLT) announces that its subsidiary Celtic Biotech Iowa, Inc., entered into an exclusive, world-wide (excluding China) license agreement to develop and market a patent-pending invention related to the treatment of acute and chronic nephropathy, Use of Cardiotoxin for the Treatment of Chronic Kidney Disease (CKD). Animal studies have shown that cardiotoxin has the ability to inhibit the inflammatory immune processes that damage the kidneys, can reduce the level of proteinurea, serum creatinine and urea in chronic neuropathy, and recover renal function and reduce renal injury.
Cris Grunewald, President and CEO of Spotlight Innovation, stated, “According to the Centers for Disease Control and Prevention, no fewer than 20 million people in the United States may have CKD in varying stages of progression. Bringing this promising therapy to market will potentially have a positive impact on the lives of millions of people suffering with chronic kidney disease, and is another significant step in our value-building strategy for Celtic Biotech Iowa.”
Dr. Paul Reid, President of Celtic Biotech Iowa, said “This CKD therapy has shown the potential to improve kidney function in a variety of animal models, and we expect to see comparable effectivity as we move this therapy through the clinical trial process. For those people who have experienced kidney failure due to chronic kidney disease, there are currently only two options for treatment—life-long dialysis or kidney transplant. We would hope that this therapy could be utilized to delay or stop the progression to dialysis or surgery.”
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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