- Starton Therapeutics is a leading clinical stage Biotechnology Company based in New Jersey led by CEO and Chairman, Mr. Pedro Lichtinger, Former President of Global Primary Care & President of Europe at Pfizer (PFE - NYSE)
- Starton is focused on transforming standard of care therapies with proprietary continuous delivery technologies for selected approved drugs. The platform creates superiority regarding safety and side effect profiles over the original and can transform the drug into new indications for best-in-class oncology therapies allowing patients to live better longer lives
- Through this initial investment, Love Pharma will be in position to imminently leverage Starton's advancements and clinical breakthroughs, helping to guide and accelerate the Company's current and prospective clinical pursuits
- The investment establishes initial interest in Starton's ongoing growth and advancements and provides the framework to build a long-term strategic relationship
VANCOUVER, BC / ACCESSWIRE / September 7, 2022 / LOVE Pharma Co. ("LOVE" and or "The Company") (CSE:LUV)(FSE:G1Q0), the Company is pleased to announce that it 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. This first investment in Starton establishes an initial position in the company and provides the starting point for a strategic relationship going forward whereby Love will leverage Starton's advancements and breakthroughs to guide the Company's clinical pursuits.
"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 (July 13 press release)," said Mr. Zach Stadnyk, Love Pharma President and CEO. "Starton is also entering a phase 2 trial with its STAR - OLZ transdermal five - day adhesive matrix patch deploying olanzapine, for which the FDA US Food and Drug Administration (FDA) has cleared an investigational new drug (IND) application for STAR-OLZ in Chemotherapy Induced Nausea and Vomiting (CINV) (press release). 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."
The Company 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. With this initial investment in Starton we believe Love can leverage their expertise and proven success to credibly evaluate potential acquisitions in transdermal field of advanced drug delivery systems.
Love Pharma has invested an initial $592,000 Cdn into Starton for 145,161 common shares of the issuer at a price of $3.10 USD per share. The investment was completed in June 2022.
Starton Therapeutics Highlights
- Experienced Board and management team led by Mr. Pedro Lichtinger, Former President of Global Primary Care & President of Europe at Pfizer
- Starton's proprietary transdermal technology is intended to increase efficacy of approved drugs, to make them more tolerable and expand their potential use
- Clean financial picture, no warrants or debt
- Two therapeutic Programs in clinical development with patent protection through 2040/2041:
STAR-LLD, Phase 1: Continuous delivery of lenalidomide in hematologic malignancies (blood cancers)
- Unprecedented results in preclinical models in both efficacy and safety
- Preclinical data supports issued continuous delivery patent (US Patent #US11197852B2), protection through 2040
- Entering Phase 1b/2 in newly diagnosed multiple myeloma (NDMM) in two new indications for lenalidomide.
- Phase 1 clinical trial complete
- Chronic lymphocytic leukemia (CLL): first IMiD for most common form of leukemia
STAR-OLZ, Phase 2: Transdermal five-day adhesive matrix patch in CINV (cancer supportive care)
- First product with Total control primary endpoint in CINV.
- Superiority on label; differentiated profile from oral
- Cost effective, improved compliance and convenience
- Partnered in Mainland China with Haisco Pharmaceutical Group.
- FDA IND authorized
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.
To further accelerate our planned strategic alliance and to bolster the Company's own biotech initiatives in the area, Love Pharma is in discussions with TRPL Laboratory - TRPL is the lab that develops and supports Starton's transdermal drug delivery programs and is a global leader in transdermal delivery systems.
For more information about Starton Therapeutics and their pipeline of development programs, visit www.startontx.com
On Behalf of The Board of Directors,
Zachary Stadnyk, CEO and Director
About Love Pharma Inc.
With a focus on the global sexual Health and Wellness markets, Love Pharma Inc. (CSE: LUV) (FSE: G1Q0) was founded in 2020, with a mission to bring to market innovative products that enhance sexual health and wellness while providing an improved quality of life. Love Pharma holds exclusive licenses to produce market, package, sell, and distribute patent-protected therapeutic and pharmaceutical products throughout Europe, the United Kingdom, and North America.
For further information, please contact:
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, financing, and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
SOURCE: Love Pharma Inc.