Spotlight Innovation Makes Strategic Investment in Solx, Inc.
Company expands therapeutic focus areas to include refractory glaucoma
WEST DES MOINES, Iowa, Nov. 30, 2016 /PRNewswire/ -- Spotlight Innovation Inc. (OTCQB: STLT) today announced that it has made a strategic investment in Solx, Inc., a Massachusetts-based, privately-held medical device company. Principally backed by MVM Life Science Partners, a leading global life science venture capital firm, Solx develops innovative surgical technologies that treat glaucoma and preserve vision.
Solx's lead product is the SOLX Gold Shunt™, a first-in-class, implantable drainage device designed to reduce elevated intraocular pressure (IOP) associated with refractory glaucoma without creating a bleb. The device provides a pathway for the flow of aqueous humor from the anterior chamber to the suprachoroidal space, utilizing a natural pressure differential within the eye. Approved for use in Canada and Europe, the SOLX Gold Shunt has been tested in a multi-center clinical trial, is investigational and awaiting FDA approval in the U.S.
Mr. Kevin McMahon, President and Chief Executive Officer of Solx, commented, "We are very pleased to have Spotlight Innovation join the great team of investors supporting us on our journey. Their involvement validates our belief that the SOLX Gold Shunt will provide glaucoma surgeons with an important new tool for treating patients challenged by severe glaucoma."
About Solx, Inc.
Solx, Inc. is dedicated to developing innovative surgical technologies that treat glaucoma and preserve vision. Privately held, the company is backed by MVM Life Science Partners, River Street Management, Easton Capital, Spotlight Innovation, institutional and other investors. For more information, visit www.solx.com.
About Spotlight Innovation Inc.
Spotlight Innovation Inc. (OTCQB: STLT) identifies and acquires rights to innovative, proprietary technologies designed to address unmet medical needs, with an emphasis on rare, emerging and neglected diseases. To find and evaluate unique opportunities, we leverage our extensive relationships with leading scientists, academic institutions and other sources. We provide value-added development capability to accelerate development progress. When scientifically significant benchmarks have been achieved, we will endeavor to partner with proven market leaders via sale, out-license or strategic alliance. For more information, visit www.spotlightinnovation.com or follow us on www.twitter.com/spotlightinno.
Statements in this press release that are not purely historical are forward-looking statements. Forward-looking statements herein include statements regarding Spotlight Innovation's efforts to develop and commercialize its various technologies, and to achieve its stated benchmarks. Actual outcomes and actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include: risks and uncertainties, such as the inability to finance the planned development of the technologies; the inability to hire appropriate staff to develop the technologies; unforeseen technical difficulties in developing the technologies; the inability to obtain regulatory approval for human use; competitors' therapies proving to be more effective, cheaper or otherwise more preferable; or, the inability to market a product. All of which could, among other things, delay or prevent product release, as well as other factors expressed from time to time in Spotlight Innovation's periodic filings with the Securities and Exchange Commission (the "SEC"). As a result, this press release should be read in conjunction with Spotlight Innovation's periodic filings with the SEC. The forward-looking statements contained herein are made only as of the date of this press release and Spotlight Innovation undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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SOURCE Spotlight Innovation Inc.
Released November 30, 2016