Better Health. Better Life.

M Pharmaceutical Inc. outlines eMosquito milestones for 2015 and final private placement closing

Vancouver, B.C., Canada –M Pharmaceutical Inc., ( the "Company") (CSE:MQ) wishes to

outline its anticipated 2015 milestones in conducting the advancement of the technology and the development of the eMosquito.

George Tsafalas, director of the Company, said "We believe that 2015 will be a year of significant progress for M Pharmaceutical and our shareholders. Our strategy is working toward achieving both our near-term milestones as well as laying the ground work for long-term growth of both our promising technology and our company”.

The following are the Company's current milestone goals, together with an approximate timeline of achieving the same.

  • Development of a pilot prototype of the eMosquito (Q2 2015)
  • Preparation of a medical device registration strategy (Q2-Q3 2015)
  • Pilot prototype testing in laboratory (Q3 2015)
  • PCT Conversion/Continuous patent management (Q4 2015)
  • Pilot prototype testing on experimental animals (Q4 2015)

The Company also announced that it has closed the final tranche of its recently announced financing. The Company has issued an additional 10,250,000 units  at $0.02 per unit for gross proceeds of $205,000, for final total gross proceeds of $1,080,000.  Each unit consists of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant") entitling the holder to purchase one additional Common Share for $0.05 for a period of 12 months from closing. Proceeds will be used for working capital, including expenses for the acquisition of the rights to the eMosquito, and certain testing and development costs thereof. Securities issued hereunder will be subject to trading restrictions until June 14, 2015.

About M Pharmaceutical Inc.

The Company has signed an arms-length agreement to acquire and commercialize the rights to a biomedical device for the self-monitoring of blood glucose, primarily by diabetics. This device, called the eMosquito, is based on a novel in-plane actuator designed to provide minimally-invasive skin penetration to be used by persons with diabetes.  The objective of the eMosquito is to obtain whole blood samples by penetrating the skin to shallower depths and in less sensitive areas of the body.  Persons with diabetes have traditionally used the "finger prick" method to monitor/test their blood glucose levels.  The blood sample was obtained by pricking the finger tip, a highly sensitive area of the body.  The eMosquito is envisioned to be worn like a patch with small needles designed to puncture the skin just deep enough to draw blood without affecting the nerve endings and causing little or no pain.  The commercial development of the eMosquito will require the successful coordination and execution of a wide variety of technology disciplines.

For more information contact:

Investor Relations
Phone: 604.428.0511          

info@m-pharma.ca
www.m-pharma.ca

 

 FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. This news release includes forward-looking statements with respect to the acquisition and commercialization of the rights to the eMosquito, including the achievment of certain milestones.  Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com and such factors as the Company failing to close the planned acquisition, the failure to complete the commercialization of the eMosquito and the failure to meet one or more of the proposed milestones.

Drug Treatment Portfolio

Obesity, Weight Management Treatment

C-103 is a novel reformulation of orlistat, patented until 2030 in the U.S.  Orlistat is FDA-approved for weight management and sold by Roche as Xenical® (prescription) and by GlaxoSmithKline as alli® (over-the-counter).  Proven safe and effective in over 100 clinical trials, orlistat is the best-selling weight loss medication of all time with peak sales over $900 million in 2007.  The C-103 reformulation addresses adverse events reported by over 90% of orlistat users. These adverse events have led to the decline in Orlistat sales to approximately $200 million in recent years. 

C-103 is intended to maintain the efficacy of orlistat while minimizing its socially unacceptable adverse events. Unlike other weight loss drugs:

  • Orlistat is not an amphetamine
  • Orlistat does not affect the central nervous system
  • Orlistat is not systemically absorbed
  • Orlistat is the only FDA-approved OTC weight loss drug because of its safety
  • Orlistat is the only FDA-approved weight loss drug for adolescent patients (age 12-18)

Infertility Treatment

ToConceive is an innovative new infertility treatment that offers hope and assistance to the millions of couples worldwide struggling to start a family. Our product is an easy to use topical gel that helps to balance the pH of the vagina and is clinically proven to increases a women’s natural production of transudate (sexual lubrication). This increase in natural transudate is required for successful “Sperm Capacitation” to occur. Without the process of Sperm Capacitation, the sperm would not have the ability to travel the required distance to the ovum or have the appropriate chemical makeup for successful conception to occur.

ToConceive is a women’s health treatment supported by a FDA 510K clearance and is protected by four USPTO patents. ToConceive’s proven ability to increase a woman’s natural production of transudate results in significantly higher success rates for couples trying to conceive, without the added expense, or stress, associated with assisted reproduction treatments.