Spotlight Innovation Inc. announced that it has established subsidiary Caretta Therapeutics, and that the subsidiary has entered into a licensing agreement with Dr. Paul Reid for rights to develop and commercialize products derived from snake venom that may provide analgesic relief from moderate to severe chronic pain. Under the terms of the agreement, Dr. Reid has agreed to grant an exclusive, worldwide license to Caretta Therapeutics to develop, manufacture and sell the products. Caretta Therapeutics intends to begin manufacturing its first products by late 2016 and to begin commercial distribution of over-the-counter formulations beginning in 2017.