SIERRA MADRE, Calif., Jan. 4, 2012 (GLOBE NEWSWIRE) -- Innovus Pharmaceuticals, Inc., (OTC:BB:NORHD.OB) ("Innovus Pharma") today announced that the Company has subscribed to OTC Intelligence in order to provide investors with free access to real-time market depth (Level 2) quotes on Innovus Pharma's stock. These quotes are currently available under the Company's stock symbol "NORHD" (ticker symbol to change to: OTC:BB:INNV on January 18, 2012, as noted below) at www.otcmarkets.com.
As reported on December 8, 2011, FasTrack Pharmaceuticals, Inc. ("FasTrack") completed its previously announced merger agreement with North Horizon Inc., subsequent to which FasTrack was acquired by, and has become a wholly-owned subsidiary of North Horizon. Effective December 7, 2011, the combined entity began operating under the name of Innovus Pharma. Its common stock will continue to be quoted on the OTC Bulletin Board under the ticker: NORHD until January 18, 2012, after which time it will trade under the ticker: INNV.
About Innovus Pharmaceuticals, Inc.
Innovus Pharmaceuticals, Inc. ("Innovus Pharma") is focused on developing and in-licensing revenue generating therapeutic drug candidates. The Company has the right to develop a number of therapeutic compounds using the NexACT® transdermal drug delivery technology. Initially, Innovus Pharma is concentrating on compounds requiring relatively short development timelines and minimal R&D investment, such as a potential NexACT-based topical treatment for male hair loss. Innovus Pharma also holds 50% of the net commercial rights to PrevOnco™, a lansoprazole-based Phase 2/3 Orphan Drug candidate for liver cancer. Additionally, Innovus Pharma's proprietary OTC pipeline, consisting of therapies aimed at pain relief and bleeding of the gums, may offer near term revenue opportunities.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX:OTCM.PK) operates the world's largest electronic marketplace for broker-dealers to trade unlisted stocks. OTC Markets Group's OTC Link™ platform supports an open network of competing broker-dealers that provide investors with the best prices in over 10,000 OTC securities. We categorize the wide spectrum of OTC-traded companies into three tiers - OTCQX (the intelligent marketplace), OTCQB® (the venture marketplace), and OTC Pink™ (the open marketplace) - so investors can identify the level and quality of information companies provide. To learn more about how OTC Markets Group makes the unlisted markets more transparent, informed, and efficient, visit www.otcmarkets.com.
Innovus Pharma's Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act, as amended: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, its ability to raise sufficient financing to implement its growth strategy, and to successfully develop and commercialize its proprietary products. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent report on Form 8-K and other filings made with the SEC. Copies of these reports are available from the SEC's website or without charge from the Company.