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Spotlight Innovation Inc. (OTCQB: STLT) announces today that FreeMind Group LLC has been retained by its subsidiary Celtic Biotech Iowa, Inc. to identify grant and contract funding opportunities from such agencies as the National Institutes of Health (NIH), Department of Defense (DoD) and Private Foundations, and to prepare and file grant applications for relevant opportunities. FreeMind Group’s expertise in applying for grants and contracts extends throughout every government mechanism as well as private foundations open to funding the life sciences.

Cris Grunewald, President and CEO of Spotlight Innovation, said, “Celtic Biotech’s research portfolio continues to show great promise. We look forward to exploring and securing non-dilutive funding sources to continue our development strategy, and to continue to bring value to Celtic Biotech.”

Dr. Paul Reid, President of Celtic Biotech, said, “FreeMind Group has a great track record in the grant submission arena. We look forward to working with them and maximizing the grant opportunities that are available.”

Said Ram May-Ron, Managing Partner of FreeMind Group, “We are excited to begin working with Celtic Biotech on devising and implementing a long-term multi-submission granting strategy, with the aim of securing non-dilutive funding to fund their R&D activities.”

About Spotlight Innovation Inc.

Spotlight Innovation Inc. (OTCQB: STLT) specializes in identifying, acquiring and incubating companies which have unique intellectual property (IP) in the medical sector. The Company utilizes relationships with the nation’s leading academic and institutional IP developers to locate promising IP technologies with potential for market share capture. With our support, development, resources and strategic planning expertise, we believe we can develop IP that will have a positive effect on healthcare. We intend to partner with proven sector leaders on commercialization once technologies are fully developed. Additional information available at www.spotlightinnovation.com.

About Celtic Biotech Iowa, Inc.

Celtic Biotech Iowa, Inc., a subsidiary of Spotlight Innovation Inc., is developing novel, clinical trial-phase products for the treatment of cancers and pain in humans. Derived from naturally specialized receptor-binding proteins, these products have the potential to reduce treatment costs, increase survivability, and improve the quality of life for cancer patients. Additional information available at http://www.celticbiotech.com.

About FreeMind Group LLC

The FreeMind Group is the premier international consulting firm specializing in assisting life science organizations secure non-dilutive funding from US Federal Agencies and Private Foundations. Established in 1999, FreeMind is the largest consulting group of its kind working with academics and Industry alike. Expertise in applying for grants and contracts extends throughout every government mechanism open to funding the life sciences including all NIH institutes, DoD, NSF, FDA, CDC, BARDA, etc., as well as private foundations. More information available at http://www.freemindconsultants.com/.

Forward Looking Statements

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.