WEST DES MOINES, Iowa, Nov. 4, 2016 /PRNewswire/ -- Spotlight Innovation Inc. (OTCQB: STLT) today announced that the United States Patent and Trademark Office issued to the Company's subsidiary Celtic Biotech Iowa U.S. Patent No. 9,345,751, entitled " Crotalus Durissus Terrificus Venom Administration for Cancer Treatment." The patented invention relates to compositions isolated from rattlesnake venom ("Crotoxin") and methods for intravenous administration of Crotoxin to cancer patients.
Commenting on the significance of this patent issuance, Cristopher Grunewald, Spotlight Innovation's President and Chief Executive Officer, said, "A key component of Spotlight Innovation's product development strategy is to establish a strong intellectual property portfolio to support our pipeline of therapeutic product candidates." 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. Forward-Looking Statements 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 the patent described above. 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 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 (the "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.