WEST DES MOINES, IA - (NewMediaWire) - September 09, 2015 - Spotlight Innovation Inc. (OTCQB: STLT) announces that its subsidiary Celtic Biotech has entered into an exclusive patent license agreement, applicable to North America, with Sao Paulo, Brazil-based Instituto Butantan for the use of Crotamine, a neurotoxin derived from the venom of the South American rattlesnake Crotalus durissus, as a potential imaging agent for cancer and gene therapy delivery vector.
Celtic Biotech intends to initiate validation studies with the intent to enter Phase I studies for the use of Crotamine as a suitable positron emission tomography (PET) radiopharmaceutical imaging agent for lung cancer tumors. Atlanta-based Emory University will design and conduct these studies and subsequent clinical trials under a Research Agreement with Celtic Biotech announced in July of this year.
Dr. Paul Reid, President of Celtic Biotech, said "This technology greatly increases our product pipeline, strengthens our position in the oncology area, and provides us with options for exploring other healthcare applications, thereby mitigating developmental risks."
Cris Grunewald, President and CEO of Spotlight Innovation, said, "This licensing agreement between Celtic Biotech and Instituto Butantan represents an important milestone in our development efforts. We are pleased to be entering into this relationship and will continue to seek opportunities, wherever they may be found in the world, as we take steps to build value for Celtic Biotech."
About Spotlight Innovation Inc.
Spotlight Innovation Inc. (OTCQB: STLT) identifies, acquires and incubates companies that have unique intellectual property (IP) in the medical sector. The Company has relationships with the nation's leading academic and institutional IP developers, and locates promising IP technologies with potential for market share capture. With strong support, development, resources and strategic planning expertise, we believe we can develop IP that will have a positive effect on healthcare. We partner with proven sector leaders on commercialization once technologies are fully developed. Additional information available at 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 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.
Photographs of Crotalus durissus are available for the media upon request from DresnerAllenCaron by contacting Rudy Barrio at 212-691-8087.
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