Spotlight Innovation Spinal Muscular Atrophy Research Collaborator Professor Kevin Hodgetts Receives $300,000 Grant from Cure SMA
URBANDALE, IA, July 24, 2018 (GLOBE NEWSWIRE) -- Spotlight Innovation Inc. (OTCQB: STLT), a pharmaceutical company targeting rare, emerging and neglected diseases, today announced that Company research collaborator Professor Kevin Hodgetts has been awarded a grant of $300,000 by the nonprofit organization Cure SMA for the project Pre-Clinical Development of LDN-5178 for the Treatment of SMA.
“Cure SMA's support of Professor Hodgetts to work with Dr. Elliot Androphy and other collaborators on SMA drug candidate LDN-5178 represents an important validation of Spotlight Innovation's preclinical SMA pipeline,” said Geoffrey Laff, Ph.D., Spotlight Innovation's Senior Vice President of Business Development.
Spotlight Innovation holds an exclusive, worldwide development and commercialization license from Indiana University Innovation and Commercialization Office for LDN-5178 and a group of related compounds including STL-182.
Professor Hodgetts, director of the Laboratory for Drug Discovery in Neurodegeneration at Brigham and Women's Hospital, and Dr. Androphy of Indiana University School of Medicine, are members of Spotlight Innovation's Scientific Advisory Board.
For more information about Cure SMA and this grant award, visit www.curesma.org/news/hodgetts-grant-2018.html.
About Spotlight Innovation Inc.
Spotlight Innovation Inc. (OTCQB: STLT) acquires and develops proprietary therapies to address unmet medical needs, with an emphasis on rare, emerging and neglected diseases. The Company identifies in-licensing opportunities and manages product development through partnerships with universities, medical schools, contract research organizations (CROs), and contract manufacturing organizations (CMOs). Spotlight Innovation’s development pipeline includes product candidates for cancer, chronic pain, spinal muscular atrophy (SMA) and Zika virus infection. At the appropriate stage of research and development the Company will endeavor to pursue product commercialization opportunities including, but not limited to, out-licensing and strategic partnerships with industry leaders. For more information, visit www.spotlightinnovation.com or www.twitter.com/spotlightinno.
Statements in this press release that are not purely historical are forward-looking statements. Forward-looking statements herein include statements regarding Spotlight Innovation’s efforts to develop and commercialize various therapies, including LDN-5178 and STL-182, and to achieve its stated benchmarks. Actual outcomes and actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties, such as: the inability to finance the planned development of the therapies; the inability to hire appropriate staff to develop the therapies; unforeseen technical difficulties in developing the therapies; the inability to obtain regulatory approval for human use; competitors’ therapies proving to be more effective, cheaper or otherwise more preferable; or, the inability to market a product. All of which could, among other things, delay or prevent product release, as well as other factors expressed from time to time in Spotlight Innovation’s periodic filings with the Securities and Exchange Commission (SEC). As a result, this press release should be read in conjunction with Spotlight Innovation’s periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release and Spotlight Innovation undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Contact: Rene Erickson Spotlight Innovation Inc. 1-515-274-9087 [email protected]
Released July 24, 2018