BOSTON, MA--(Marketwire - October 20, 2010) -
Spencer Pharmaceutical Inc. (PINKSHEETS: SPPH
) announced today that it has begun licensing talks with a leading Asian Pharmaceutical to manufacture and distribute its Met4 formula to the region.
According to management, a confidentiality agreement has been signed by the companies preventing the name of the Pharmaceutical to be named. However, advanced discussions are underway for the licensing, co-development of certain formulations as well as manufacturing the new Met4 formulation.
"We are very confident in our new formulation to gain popularity very quickly in most major markets but the Asian Market could yield a rapid adoption and immediate sales," said Dr. Max Arella, President of Spencer Pharmaceutical Inc. "Our Met4 delivery is the biggest advancement in the fight against diabetes since metformin," 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.
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