(SmallCapNewsRelease: SPPH) Initiates Phase I For Its Proprietary Formulation “Metformin”
JERICHO, NY—(SmallCapNewsRelease)—October 28th, 2010, Spencer Pharmaceutical Inc. (OTC: SPPH) announced today that their Met4 (Metformin) findings are being sent to an independent lab to be validated.
As per the company’s guidance released on October 13th, 2010, Spencer Pharmaceuticals will be utilizing an independent lab to begin testing of Met4 on laboratory animals. By using an independent lab, Spencer Pharmaceuticals believes the independent testing will not only bring more attention to the company’s efforts, but will add value by aiding in future licensing deals.
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.
The company believes that Met4 will obtain fast track approval, giving the company a foothold in the $4 billion Metformin market.
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