SCOLR Pharma, Inc. Engages HealthPro BioVentures as its Financial Advisor
SCOLR Pharma, Inc. (NYSE Alternext US: DDD) today announced the engagement of HealthPro BioVentures LLC (”HealthPro”), a life sciences investment bank and strategic advisory firm, as its financial advisor in connection with the evaluation of various prospective transactions, and identifying and evaluating potential strategic partners.
“We are excited about HealthPro joining our team. This is an important step in our continuing efforts to maximize the value of our CDT® technologies,” said President and CEO Bruce S. Morra, Ph.D. “For the past several months, SCOLR has been exploring a number of strategic partnering opportunities and its Board of Directors has concluded that there is substantial benefit to be realized from retaining a financial advisor to assist in the continuation of these efforts. We have therefore engaged HealthPro, a firm with extensive relationships in the pharmaceutical industry and whose sole focus is on the life sciences sector.”
There can be no assurances that this process will result in any specific transactions.
About SCOLR Pharma:
Based in Bothell, Washington, SCOLR Pharma, Inc. is a specialty pharmaceutical company whose objective is to combine its formulation expertise and its patented CDT platforms to develop novel prescription pharmaceutical, over-the-counter (OTC), and nutritional products. Our CDT drug delivery platforms are based on multiple issued and pending patents and other intellectual property for the programmed release or enhanced performance of active pharmaceutical ingredients and nutritional products. For more information on SCOLR Pharma, please call 425.368.1050 or visit http://www.scolr.com/.
This press release contains forward-looking statements (statements which are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation statements related to our on-going evaluation of prospective transactions and the involvement of HealthPro in this process. These forward-looking statements involve risks and uncertainties, including activities, events or developments that we expect, believe or anticipate will or may occur in the future. A number of factors could cause actual results to differ from those indicated in the forward-looking statements, including our ability to successfully develop new formulations and complete research and development, including pre-clinical and clinical studies, our ability to raise additional funds, the continuation of arrangements with our product development partners and customers, competition, government regulation and approvals, and general economic conditions. For example, if our clinical trials are not successful or take longer to complete than we expect, we may not be able to develop and commercialize our products and we may not obtain regulatory approval for our products, which would materially impair our ability to generate revenue. Additional assumptions, risks and uncertainties are described in detail in our registration statements, reports and other filings with the Securities and Exchange Commission. Such filings are available on our web site or at www.sec.gov. You are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances.