Spencer Pharmaceutical Announces New President

BOSTON, MA--(Marketwire - June 22, 2010) -

Spencer Pharmaceutical Inc. (PINKSHEETS: SPPH) announced today that Dr. Max Arella will be President and Chairman of the Company.

The more than 30 years experience of Dr. Arella as a University Professor, and Director of a large Research Center for 5 years is also complemented by his ability as an entrepreneur in start-up companies in the Biotech-Pharma sector.

He presents a diversified experience in sectors of academic research, scientific consultation and drug-development with small and large pharmaceutical companies. Multilingual, motivated professional oriented towards concrete results. His expertise is aimed towards an appropriate assessment of innovation, technology transfer and commercial development from university bench-top to commercial products. Dr. Arella has published in major scientific journals and presented at international conferences in Virology, Biotechnology and Molecular Biology. He has been instrumental to provide Spencer Pharmaceuticals with exciting and high-development potential technologies that will represent the core of the Company in years to come.

Mr. Ian Morrice, representing the Board of Directors of Spencer Pharmaceutical Inc., felt that the timing was right to bring someone with the necessary exposure to corporate and academic issues capable of raising the success level of Spencer Pharmaceutical Inc. as he states, “We are more than pleased to be working with Dr. Arella, whom we are convinced will enable the Company to move forward rapidly with its patented science to market our products early entry into the National and International markets that we have identified as key to our success.”

Dr. Arella stated, “I am delighted to have the opportunity to work with a company that is breaking new frontiers with innovative drug release and absorption systems for the treatment of metabolic diseases.”

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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