Spotlight Innovation, Inc. (OTCQB: STLT) is a pharmaceutical company that focuses on unmet needs and rare diseases. Shares of the pharmaceutical company are gaining 17.07%, through early trading on Friday, March 10, 2017. Over the past three months, Spotlight Innovation, Inc. has seen average daily volume of 75,841 shares. However, volume of 233,825 shares or dollar volume of $114,036, has already exchanged hands Friday.
Shares of Spotlight Innovation, Inc. are climbing Friday, after the company announced that it has begun part two of its Phase 1 cancer clinical trials. The second part will focus on whether or not faster dosing is able to shorten cancer, without posing a risk to patients. The trial is being conducted at the Department of Medical Oncology at Pitie-Salpetriere in Paris, France. Here is the full press release detailing of the second part of its Phase I clinical trial:
Spotlight Innovation, Inc. Press Release:
URBANDALE, Iowa, March 10, 2017 /PRNewswire/ — Spotlight Innovation, Inc. (STLT) today announced that its subsidiary Celtic Biotech has begun Part 2 of its Phase I dose escalation safety study, Crotoxin in Patients with Advanced Cancer using an Intravenous Route of Administration. ImmunoClin Ltd., a company specializing in clinical development, is the contract research organization (CRO) overseeing the study conduct.
Part 2 of the Phase I study uses a revised protocol designed to determine whether faster dose escalation can be attained in a shortened time frame without increased risk to patients. The trial is being conducted at the Department of Medical Oncology at Pitié-Salpêtrière Hospital in Paris under the direction of Principal Investigator Maria A. Gil-Delgado, MD, PhD. Dr. Gil-Delgado is a member of the American Society of Clinical Oncology (ASCO). Noted French oncologist David Khayat, MD, PhD, FASCO, a Board Member of ASCO, is serving as Principal Scientific Advisor.
John Krohn, Spotlight Innovation’s President and Chief Operating Officer, said, “Commencement of Part 2 of this study is a significant step in our cancer drug development program. Crotoxin is an important new potential treatment option for patients with advanced solid tumors, and we are pleased with our progress in the clinical trial process.”
Oncology is one of four focus areas within Spotlight Innovation’s research and development pipeline; the others are chronic pain, Zika virus infection and spinal muscular atrophy (SMA).
About Spotlight Innovation, Inc.
Spotlight Innovation Inc. (OTCQB: STLT) identifies and acquires rights to innovative, proprietary technologies designed to address unmet medical needs, with an emphasis on rare, emerging and neglected diseases. To find and evaluate unique opportunities, we leverage our extensive relationships with leading scientists, academic institutions and other sources. We provide value-added development capability to accelerate development progress. When scientifically significant benchmarks have been achieved, we will endeavor to partner with proven market leaders via sale, out-license or strategic alliance. For more information, visit www.spotlightinnovation.com or follow us on www.twitter.com/spotlightinno.
About Celtic Biotech Iowa, Inc.
Spotlight Innovation subsidiary Celtic Biotech Iowa, Inc., is developing novel therapeutic products for the treatment of cancer. Derived from specialized receptor binding proteins found in snake venom, these product candidates have the potential to reduce treatment costs, increase survival, and improve quality-of-life for cancer patients.
About the ImmunoClin Corporation
ImmunoClin Corporation (IMCL) is a United States healthcare company with principal office in Washington DC, European headquarters and laboratories in central London, United Kingdom. IMCL’s subsidiary, ImmunoClin Ltd, has been providing quality research and development services to industry for over 16 years. For more information, visit www.immunoclin.com.
Statements in this press release that are not purely historical are forward-looking statements. Forward-looking statements herein include, but are not limited to, statements regarding Spotlight Innovation’s efforts to develop and commercialize its various technologies, 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: uncertainties inherent in clinical trials; the inability to finance the planned development of the technologies; the inability to hire appropriate staff to develop the technologies; unforeseen technical difficulties in developing the technologies; 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.