|AT THE COMPANY||AT THE FINANCIAL RELATIONS BOARD|
|Robert V. Toni, President & CEO
J. Blount Swain, CFO
Ronald A. Ahrens, Chairman
CLOSURE Medical Corporation
| General Info: Paul G. Henning (212) 661-8030
Analyst Info: Brian Gill (212) 661-8030
Media Info: Deanne Eagle (212) 661-8030
FOR IMMEDIATE RELEASE: December 8, 1999
CLOSURE MEDICAL CORPORATION ELECTS RONALD A. AHRENS
OF ITS BOARD OF DIRECTORS
Raleigh, NC, December 8, 1999 -- CLOSURE Medical Corporation (Nasdaq: CLSR), today announced that Ronald A. Ahrens, 60, a member of the Board of the Company since January of this year, has been elected as its Chairman of the Board. Mr. Ahrens succeeds Rolf D. Schmidt, who co-founded the company in 1990 and has served as Chairman since inception. Mr. Schmidt will continue to serve on the board and as chairman of its executive committee.
Mr. Ahrens has over thirty years experience in the pharmaceutical and health care industry, with particular emphasis on the consumer marketplace. Prior to his retirement, Mr. Ahrens served as President of the Consumer Healthcare Group Worldwide of Merck & Company. Mr. Ahrens joined Merck in 1990 as Executive Vice President of Consumer Healthcare Group International. Prior to joining Merck, he served in senior executive positions with Bristol-Myers Squibb and Richardson Vicks.
“As the Company’s possibilities expand, we look to Ron Ahrens’ wealth of experience in the health care industry to help us exploit various opportunities and our growing technology base,” said Rolf Schmidt. Robert V. Toni, President and CEO said “I am looking forward to working closely with Ron Ahrens and our Board of Directors in taking advantage of the enormous opportunities that lie ahead for Closure Medical.”
CLOSURE Medical Corporation, headquartered in Raleigh, North Carolina, develops, manufactures and commercializes medical tissue cohesive products based on its proprietary cyanoacrylate technology. CLOSURE's nonabsorbable tissue cohesive products may be used to replace sutures and staples for certain topical wound closure applications and oral pain relief associated with canker sores, while its absorbable tissue cohesive products can potentially be used as tissue cohesives for internal wound closure and management. Currently marketed nonabsorbable tissue cohesive products include DERMABOND topical skin adhesive, which is used to replace sutures and staples for closure of certain lacerations and incisions, OCTYLDENT® cohesive, which is used as an adjunct in the treatment of adult periodontal disease; and NEXABAND® topical cohesives, a family of products used in veterinary wound closure and management.
* DERMABOND is a trademark of Ethicon, Inc.; OCTYLDENT and NEXABAND are all trademarks of CLOSURE Medical Corporation.
To receive CLOSURE’s latest news release and other corporate documents via fax, at no cost, call 1-800-PRO-INFO, use the Company’s symbol CLSR. Or visit the Financial Relations Board's website at www.frbinc.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 nonabsorbable and absorbable products; the need for regulatory approval and effects of governmental regulation; technological uncertainties; 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, 1998 filed with the Securities and Exchange Commission.