BELTSVILLE, Md., Nov. 29 Spherix Incorporated(Nasdaq: SPEX) has recently signed contracts to provide technical andregulatory consulting services to several major consumer, food, ingredient,and pharmaceutical companies. Spherix's Health Sciences Consulting Divisionprovides scientific and strategic support for suppliers, manufacturers,distributors, and retailers of conventional foods, biotechnology-derivedfoods, medical foods, infant formulas, food ingredients, dietary supplements,food contact substances, pharmaceuticals, medical devices, consumer products,and industrial chemicals and pesticides.
"I am very pleased with the progress made in our Health SciencesDivision," said Claire Kruger, CEO and Director of Health Sciences of Spherix."Revenues earned through these efforts will add to our substantial cashreserve, and will be very useful moving forward."
The Company further reported that its Phase 3 clinical trial ofNaturlose(R) as a treatment for Type 2 diabetes is progressing on schedule.Since moving the entire study to the United States, patient recruitment hasincreased and, logistically, everything is moving ahead much more efficiently.The protocol for the Company's dose ranging study has been finalized and isscheduled to begin later this year. An additional study to determine ifNaturlose will work with only one dose per day is being finalized, and it ishoped that this study will begin early next year. Results from a recent trialevaluating efficacy of tagatose in toothpaste that was conducted at theUniversity of Maryland did not show significant activity; further trials forthis endpoint are being halted to focus on the diabetes market.
The diabetes drug market is now changing rapidly due to major productwithdrawals. In the next strategic step forward in an effort to commercializeNaturlose as a drug to treat diabetes, contracts have been signed with twopharmaceutical market research firms to analyze the current market for Type 2diabetes drugs and help to position Naturlose within that product space. Inaddition, primary market research will be conducted under these contracts withphysicians and patients to determine the impact of new formulations and dosingregimens, and distributors will be surveyed to package the drug in the optimalform.
Certain statements contained herein are "forward looking" statements asdefined in the Private Securities Litigation Reform Act of 1995. Because suchstatements include risks and uncertainties, actual results may differmaterially from those expressed or implied. Factors that could cause actualresults to differ materially from those expressed or implied include, but arenot limited to, those discussed in filings by the Company with the Securitiesand Exchange Commission, including the filing on Form 8-K made on October 10,2007.
Spherix's mission is to create value and increase shareholder wealththrough innovations that benefit our clients and the human condition. Spherixoffers innovations in biotechnology, and provides technical and regulatoryconsulting services to biotechnology and pharmaceutical companies.
Spherix's Internet address is http://www.spherix.com.
SOURCE Spherix Incorporated