Spencer Pharmaceutical is combining its oral drug delivery system with National Pharmaceutical Corp. and, together, will develop treatments for central nervous system diseases like Alzheimer's and Parkinson's. Spencer's drug delivery will be the primary platform in the agreement that also calls for a a swap of 20 million restricted shares.
Boston-based Spencer is working on controlled-release metformin for diabetics that does not "swell" inside the GI tract, causing gastrointestinal issues. Spencer is also working on a "bio-oxidable prodrug," which the company says can cross the blood-brain barrier, then convert to the parent drug in the CNS, via a redox-activation process.
"We are pleased to be working with another group in the development of treatments for CNS related diseases," said Spencer President Max Arella in a statement. "As many current patented drugs are becoming free of royalties, our technology would extend the patent of treatments in Alzheimer's and Parkinsons. CNS disease treatments are one of the areas where our technology can be of use in extending the life of the patents, but we are also investigating many other areas such as anti-psychotic and anti-depressor drugs."
- read the Spencer release
- look at Spencer's description of the technology