WELLESLEY HILLS, Massachusetts, September 2 /PRNewswire/ --
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.
With SRx-503, Spherics has developed an improved version of a first and second line treatment for Parkinson's disease. Current global sales exceed US$700 million (approx. US$600 million US only), despite a severe side-effect profile (including motor fluctuations and GI and CNS AE's) and compliance issues (3x daily dosing). SRx-503 maintains a more stable release profile, bypasses the stomach to alleviate GI side effects and requires dosing only once daily.