Spherics, Inc. Offers Extended Release Formulation for Sustained and Stable Levodopa Levels

    WELLESLEY HILLS, Mass., Aug. 25 /
EMWNews
/ -- Joseph F. Finn, Jr.,

C.P.A. ("Finn"), Assignee of the assets of Spherics, Inc. ("Spherics") for

the benefit of creditors, announced today that all pharmaceutical

intellectual property will be sold at a sealed bid auction on October 10,

2008.



    SRx-501 is an extended release formulation of Levodopa-Carbidopa that

is the current gold standard treatment for Parkinson's disease, with global

sales estimated at approximately $250 million. Significant PK issues with

the currently available product include erratic absorption, high

inter-subject variability and a steep wearing-off rate under its three+

times daily dosing regimen.



    Spherics has developed a multi-layer tablet allowing



    (i) faster on-set than Sinement CR,



    (ii) improved sustained plasma levels above minimum effective

concentration enabling a 1x or 2x-day dosing,



    (iii) reduced inter- and intra-subject variability that will reduce

dyskinesia and improve tolerability.



    SRx-501 will also be developed under 505(b)(2) guidelines for the FDA.

The Company estimates that the remaining trials will lead to an NDA

submission in 2011. There is human 'proof of concept' clinical data

available. A supply of clinical drug product is available for an approved

Phase II clinical study in Parkinson patients.



    Persons interested in bidding must sign a Confidentiality Agreement

("CA") obtained from Finn's office - [email protected] or

781-237-8840. They will then receive a bid package and access to the

Spherics electronic data room.

    About Spherics



    Spherics has built a strong intellectual property position around its

drug delivery technologies and products. The Company has a broad range of

issued US and international patents that they have applied to their four

central nervous system products. These patents cover polyanhydride-based

bioadhesive polymers and nanotechnology (PIN). In addition to these issued

patents, Spherics has filed numerous applications covering compositions of

matters of its proprietary polymers (SPHEROMERS), novel oral delivery

systems (including BIOGIT, BIOROD and PIN), manufacturing methods, methods

of use, formulations and product compositions.



    About Joseph F. Finn, Jr., C.P.A.



    Joseph F. Finn, Jr., is the founding partner of the firm, Finn, Warnke

& Gayton, Certified Public Accountants of Wellesley Hills, Massachusetts.

He works primarily in the area of management consulting for distressed

enterprises, bankruptcy accounting and related matters, such as assignee

for the benefit of creditors and liquidating agent for a corporation. He

has been involved in a number of loan workouts and bankruptcy cases for

thirty-four (34) years. His most recent Assignment for the Benefit of

Creditors in the Biotech field was ActivBiotics, Inc.