Spencer Pharmaceutical Announces Submission of Patent Application Covering a New Technology of Dual Release Rate of Anti-Inflammatory Drugs

BOSTON, MA--(Marketwire - March 02, 2011) -

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http://www.spencerpharmaceutical.com

Spencer Pharmaceutical Inc. (PINKSHEETS: SPPH) is pleased to announce the submission of a patent application covering a technology of dual release rate of anti-inflammatory drugs.

Results obtained by the group lead by Dr. Mateescu and Dr. Tien Canh Le showed that our technology can produce monolithic tablets rapidly liberating an effective dose of anti-inflammatory drug and then sustaining the release for a longer duration. To the best of our knowledge, these results are unique for monolithic tablets and, we believe, can be extended to various drugs widely used in the market. The patent also covers the use of our technology in several anti-inflammatory drugs that can be formulated both as fast and sustainable dual release. The excipients used are all GRAS (generally recognized as safe).

"The Company would like to thank the tremendous work of Dr. Mateescu and Dr. Tien Canh Le and their team who we believe have made a breakthrough in the delivery of pain relief in this multibillion dollar medical sector," stated Dr. Max Arella, Chairman and CEO of Spencer Pharmaceutical Inc., Furthermore "It is important to our shareholders to realize, that while we are progressing through the due diligence phase of the offer previously disclosed, we are committed to science first and that Spencer has many other opportunities which we will be developing in the near to medium term which, we believe, will add great value to our Company," 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.

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