Pro-Pharmaceuticals ships first commercial order of DAVANAT to PROCAPS in Colombia

Pro-Pharmaceuticals, Inc. (OTC: PRWP), the leading developer of therapeutics that target Galectin receptors to treat cancer and fibrosis, today announced it has shipped its first commercial order of DAVANAT^® to PROCAPS S.A., a large, international pharmaceutical company based in Barranquilla, Colombia. The $200,000 shipment of DAVANAT^® will be used by PROCAPS to qualify its vial filling process.

“PROCAPS is an excellent partner to commercialize DAVANAT® in Colombia as well as in other countries in Latin America. PROCAPS operates directly in ten Latin American countries and more than 30 countries worldwide, exporting pharmaceutical and supplement products and has a record of success launching new products”

"This first commercial shipment of DAVANAT^® is a major milestone for our Company," said Theodore D. Zucconi, Ph.D., Chief Executive Officer, Pro-Pharmaceuticals. "We have been very deliberate in taking into consideration the variables associated with first-time, international shipments of pharmaceutical products.

"PROCAPS is an excellent partner to commercialize DAVANAT^® in Colombia as well as in other countries in Latin America. PROCAPS operates directly in ten Latin American countries and more than 30 countries worldwide, exporting pharmaceutical and supplement products and has a record of success launching new products," said Zucconi.

Earlier this year, Pro-Pharmaceuticals granted PROCAPS exclusive rights to market and sell DAVANAT^® to treat cancer in Colombia, South America. As part of the Agreement, PROCAPS is responsible for the approval process, as well as distribution, marketing and sales of DAVANAT^® in Colombia. Regulatory approval to market and sell DAVANAT^® is expected in the first quarter of 2011.

SOURCE Pro-Pharmaceuticals, Inc.