Healthcare Industry News:  metabolic disease 

Biopharmaceuticals Neurology

 News Release - November 1, 2010

Spencer Pharmaceutical Partners With National Pharmaceutical in the Development of Central Nervous System Disease Treatments

BOSTON, MA--(Healthcare Sales & Marketing Network) - Spencer Pharmaceutical Inc. (Pinksheets:SPPH ) announced today that it has signed a preliminary cooperative development agreement with National Pharmaceutical Corp.

According to the agreement, Spencer and National will develop central nervous disease treatments in the areas of Alzheimer and Parkinson using Spencer's drug delivery as the primary platform. The preliminary agreement calls for a share swap of 20 million restricted shares. The final terms and conditions of the transaction will be determined in a definitive agreement. No assurances can be provided that a definitive agreement will be executed. Execution of a definitive agreement is subject to, among other things, confirming due diligence by Spencer, and other conditions and approvals by both companies' management, board of directors and shareholders, as appropriate.

"We are pleased to be working with another group in the development of treatments for CNS related diseases. As many current patented drugs are becoming free of royalties, our technology would extend the patent of treatments in Alzheimers and Parkinsons," said Dr. Arella, President of Spencer Pharmaceutical Inc. "CNS disease treatments are one of the areas where our technology can be of use in extending the life of the patents, but we are also investigating many other areas such as anti-psychotic and anti-depressor drugs," further added Dr. Arella.

About Spencer Pharmaceutical Inc.

Spencer Pharmaceutical Inc. is a US-based Pharmaceutical Research and Development Corporation, which is developing innovative drug release and absorption systems for the treatment of metabolic diseases such as diabetes and metabolic syndrome.

Important Information About Forward-Looking Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above. In addition, such statements could be affected by risks and uncertainties related to the exploration for and development of mineralized material, product demand, market and customer acceptance, competition, pricing and development difficulties, as well as general industry and market conditions and growth rates and general economic conditions. Any forward-looking statements speak only as of the date on which they are made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release. Information on the Company's website does not constitute a part of this release.


Source: Spencer Pharmaceutical

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