For Immediate Release:
|Contact:||Allen & Caron Inc||CLOSURE Medical Corp|
|Joe Allen (investors)||Len Hall (media)||Daniel Pelak, CEO|
|(212) 691-8087||(949) 474-4300||Benny Ward, CFO|
CLOSURE MEDICAL RECEIVES FDA APPROVAL TO MARKET ITS NEW HIGH VISCOSITY DERMABOND TOPICAL SKIN ADHESIVE
New Formulation of DERMABOND Adhesive Enhances Precision and Ease of Use
RALEIGH, NC (January 2, 2003) . . . CLOSURE Medical Corporation (Nasdaq:CLSR), a medical tissue adhesive products company, announced today that it has received approval from the US Food & Drug Administration to market its High Viscosity DERMABOND Topical Skin Adhesive. The new and advanced thicker formulation of DERMABOND adhesive provides physicians greater precision and control of application especially when used on curved areas of the body, such as around the eyes and nose. The product will be distributed by ETHICON Products, a division of ETHICON, INC., a Johnson & Johnson Company. ETHICON Products also distributes the Company’s original DERMABOND product.
President and CEO, Daniel A. Pelak, commented, “The uniqueness of the DERMABOND product family has now been underscored by the new High Viscosity product. We are proud of the contribution of our development teams, both at CLOSURE and ETHICON, toward improving the leading topical wound closure adhesive. No other skin adhesive approaches DERMABOND in ease of use, broadness of applicability, and the nature of its antimicrobial barrier.”
This new approval is based in part on the findings of an 84-patient multicenter clinical study conducted at the Orlando Regional Medical Center and Stony Brook University Hospital, Long Island, NY.
DERMABOND adhesive is used extensively by health professionals in the fields of trauma, plastic and other surgeries, emergency medicine and pediatrics.
About CLOSURE Medical Corporation
CLOSURE Medical Corporation is a global leader in the development, manufacture, and commercialization of medical adhesive brands for wound closure and care based on its proprietary medical grade cyanoacrylate technology. CLOSURE’s proprietary technology has customized the physical and chemical properties of cyanoacrylates to develop medical adhesive formulations to close and seal topical skin wounds and incisions.
For additional information on CLOSURE Medical visit its website at www.closuremed.com or visit the “Clients” section of the Allen & Caron website at www.allencaron.com.
This release contains certain forward-looking statements which involve known and unknown risks, delays, uncertainties or other factors not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to the early stage of commercialization of the Company’s products; the progress of its research and development programs for future products; the need for regulatory approval and effects of governmental regulation; technological uncertainties; the satisfactory conclusion of negotiations with, and dependence on marketing partners, and dependence on patents and trade secrets, as well as those detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2001, filed with the Securities and Exchange Commission. Although the Company believes that the expectations in the forward-looking statements are reasonable, the Company cannot guarantee such results. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.