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news.Spotlight Innovation announces that its subsidiary Celtic Biotech Iowa Inc. has been granted U.S. Patent entitled Crotoxin Administration for Cancer Treatment and Pain Relief.
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The invention relates to Crotoxin compositions for intravenous administration and methods of use of Crotoxin for the treatment of pain and/or for the treatment of neurologic and neuromuscular disorders.
Cris Grunewald, President and CEO of Spotlight Innovation, stated, "We are creating and protecting value for Crotoxin as we progress through clinical efficacy trials. The legal protection afforded by the exclusivity of a U.S. patent is an important component of our commercialization strategy for Crotoxin, and a significant step in our value-building strategy for Celtic Biotech Iowa."
Dr. Paul Reid, President of Celtic Biotech Iowa, said, "Approval of this patent validates the tremendous amount of research and development that has gone into the development of Crotoxin by researchers around the world. We continue to focus our efforts on shepherding Crotoxin through clinical trials to commercial product, and building the foundation for a number of potential new therapies."
Spotlight Innovation specializes in identifying, acquiring and incubating companies which have unique intellectual property (IP) in the medical sector.
The Company utilizes relationships with the nation’s leading academic and institutional IP developers to locate promising IP technologies with potential for market share capture. With our support, development resources and strategic planning expertise, we believe we can develop IP that will have a positive effect on healthcare.
We intend to partner with proven sector leaders on commercialization once technologies are fully developed. Additional information available at http://www.spotlightinnovation.com.