On October 14, 2016 Spotlight Innovation Inc. (OTCQB:STLT) reported that it has signed a Letter of Intent to acquire majority ownership in Memcine Pharmaceuticals Inc., located at the University of Iowa Research Park in Coralville, Iowa (Press release, Spotlight Innovation, OCT 14, 2014, View Source [SID:1234514016]). Memcine Pharmaceuticals is developing its Immunoplex vaccine platform technology, which is designed to use the body’s own naturally occurring targeting system to deliver vaccine components to immune cells and stimulate a robust response.

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Cris Grunewald, President and CEO of Spotlight Innovation, said, "Memcine Pharmaceuticals’ mission directly supports Spotlight Innovation’s goal of positively impacting the health and well-being of as many people as possible. Memcine Pharmaceuticals’ Immunoplex technology has shown enormous potential with broad applicability in both infectious diseases and oncology immunotherapy. We look forward to closing this transaction, furthering the development and fulfilling the promise of this exciting, potentially life-saving technology."