VANCOUVER, British Columbia, Sept. 08, 2022 (GLOBE NEWSWIRE) -- LOVE Pharma (CSE:LUV) (FSE:G1Q0), an international sexual health and wellness company, has made a strategic investment in Starton Therapeutics Inc., a New Jersey based clinical stage biotechnology company focused on transforming standard of care therapies in oncology.
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Its CEO and Chairman, Mr. Pedro Lichtinger, is an industry executive with a 37-year career in biotechnology and a proven track record of building commercial and R & D capabilities. He is the former President of Global Primary Care and President of Europe, for Pfizer Inc.
Zach Stadnyk, CEO, stated: "This investment provides our shareholders with exposure to a rapidly developing therapeutics business, which has just completed its phase 1 clinical trial for its STAR - LLD continuous delivery technology deploying lenalidomide. Starton is also entering a phase 2 trial with its STAR - OLZ transdermal five - day adhesive matrix patch deploying olanzapine, for which the FDA has cleared an investigational new drug application for STAR-OLZ in Chemotherapy Induced Nausea and Vomiting. With this investment in Starton we are building our relationship, forming an alliance and will look to Starton's expert management team to reduce risk in our own portfolio of clinical pursuits and focus on the addiction space."
Starton's proprietary transdermal technology is intended to increase efficacy of approved drugs, to make them more tolerable and expand their potential use. It has two therapeutic programs, STAR-LLD and STAR-OLZ in clinical development with patent protection through 2040 and 2041.
This initial investment of CDN$592,000 for 145,161 shares of Stanton, priced at US$3.10 per share, provides the starting point for a strategic relationship going forward whereby LOVE Pharma will leverage Starton's advancements and breakthroughs to guide its clinical pursuits.
LOVE Pharma's investment in Starton Therapeutics is primarily based upon the company's interest in innovative drug delivery technology, such as transdermal patches, which can reduce side effects, transforming patient outcomes with established, approved medicines allowing for streamlined market entry with long term IP protections. With this initial investment in Starton, management believes the company can leverage its expertise and proven success to credibly evaluate potential acquisitions in the transdermal field of advanced drug delivery systems.
To further accelerate its planned strategic alliance and to bolster its own biotech initiatives in the area, LOVE Pharma is in discussions with TRPL Laboratory, which develops and supports Starton's transdermal drug delivery programs and is also a global leader in transdermal delivery systems.
LOVE Pharma is currently identifying and assessing disruptive opportunities within the transdermal biotechnology, which it believes can be a superior delivery system in many cases for new and existing pharmaceutical therapeutic drugs.
The company is preparing to launch the sales of its two primary products, BLOOM, a topical female stimulation gel that enhances blood circulation, improving lubrication and heightening sensations, and Auralief, a patent pending, fast-acting oral strip that discreetly delivers 20 mgs of CBD when dissolved under the tongue. The company recently acquired Doc Hygiene, with its established brand of DOC HYGIENE™ single-use hand sanitizing packets which give the company a strong IP along with a comprehensive e-commerce platform.
The company is well funded, having recently raised more than $2 million, with its shares currently trading at $0.03. In order to grow its shareholder base, the company is in the process of applying for an OTC listing in the United States.
For more information, please visit the company’s website www.love-pharma.com, contact Zach Stadnyk, CEO, at 604-343-2977 or by email at investors@love-pharma.com.
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