Contact: Allen & Caron Inc CLOSURE Medical Corp
Joe Allen (investors) Len Hall (media) Benny Ward, CFO
(212) 691-8087 (949) 474-4300 (919) 876-7800
CLOSURE MEDICAL INTRODUCES NEW DERMABOND DELIVERY DEVICES
New Device Delivery System Substantially Improves Ease of Use, Adhesive Control
and Precision Placement
RALEIGH, NC (October 20, 2003) . . . CLOSURE Medical Corporation (Nasdaq:CLSR), a global leader in biomaterial-based medical devices, announced today the introduction of the ProPen and ProPen XL, a new delivery system for DERMABOND Topical Skin Adhesive. The new devices are being previewed at this week’s American College of Surgeons meeting in Chicago, IL.
The new device is designed to provide physicians greater precision application and control of adhesive flow utilizing the new high-viscosity formulation of the market leading DERMABOND adhesive. The ProPen is a single-use device designed with interchangeable tips, which allows for fine-line delivery of adhesive for those wound closures requiring precise application. The XL version of ProPen differs in that it will deliver twice the express volume as the ProPen for closing long surgical incisions. All DERMABOND products are distributed by ETHICON, INC., a Johnson & Johnson Company.
President and CEO, Daniel A. Pelak, commented, “The introduction of the ProPen device was a significant milestone for Closure Medical. The device was developed and commercialized in a record time of less than a year and moves CLOSURE squarely into the area of the development and manufacture of delivery systems. These types of devices are critical to administering Closure’s biomaterial technology.” Speaking about the timeframe required to commercialize ProPen, Pelak indicated that “attention to cycle time reduction has accelerated several projects under development, with ProPen being the first to be market released.”
DERMABOND Topical Skin Adhesive is used extensively by health professionals to replace topical sutures or staples in the fields of trauma, plastic and other surgeries, emergency medicine and pediatrics. The product is less painful to use than sutures and staples and acts as a barrier to microbial penetration protecting against the two most common bacteria that cause infection, staphylococcus and pseudomonas.
About CLOSURE Medical Corporation
CLOSURE Medical Corporation is a global leader in the development and manufacture of innovative biomaterial-based medical devices that fulfill the needs of healthcare practitioners, patients and consumers.
For additional information on CLOSURE Medical visit its website at www.closuremed.com or visit the “Clients” section of the Allen & Caron website
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, 2002, 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.
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