Spencer Pharmaceutical Inc. has signed an agreement with Polyvalor L.P., the commercial partner of Ecole Polytechnique de Montreal, to further develop the technologies protected by two patent applications developed by Professor Michael Buschmann and co-workers at Ecole Polytechnique de Montreal.

The company is pleased to explain that these patents are related to platform technologies for the efficient delivery of nucleic acids using chitosan as well as for an innovative discovery of therapeutic nanocomplexes for type 2 diabetes treatment in addition to other possible derivative applications.

"We are proud of having concluded this negotiation with Polyvalor and the Spencer team are looking forward to amalgamating the drug-discovery/delivery research of Dr Buschmann's group with the ongoing pipeline of drug-delivery systems development by Spencer that are already undergoing animal studies in our company," declared Dr Arella, CEO of Spencer Pharmaceutical Inc.. In addition, "The technologies under development by Dr Buschmann and his co-workers are ground-breaking discoveries and I am confident of the great value represented by these projects once they have been fully developed," further added Dr Arella.

Management of both Spencer and Al-Dorra's subsidiaries Hail First Pharma are diligently working on the buyout transactions and continuing updates are scheduled to be released to shareholders.

Spencer Pharmaceutical Inc. is a US based Pharmaceutical Research and Development Corporation, which is developing innovative drug release and absorption systems for the treatment of metabolic diseases such as diabetes and metabolic syndrome.

Polyvalor L.P. is managed by Gestion Univalor, L.P. The mission of Univalor is to accelerate the transfer to industry of the results of research undertaken by researchers from Universite de Montreal, its affiliated schools and most of its affiliated hospitals.