|AT THE COMPANY||AT THE FINANCIAL RELATIONS BOARD|
|Robert V. Toni, President & CEO
J. Blount Swain, CFO
CLOSURE Medical Corporation (919) 876-7800
|For General Info: Paul G. Henning (212) 661-8030
For Analyst Info: Cecelia Heer (212) 661-8030
For Media Info: Deanne Eagle (212) 661-8030
FOR IMMEDIATE RELEASE: March 28, 2000
CLOSURE MEDICAL ANNOUNCES HUMAN CLINICAL STUDYFOR LIQUIDERM™ LIQUID HEALING BANDAGE
Raleigh, NC, March 28, 2000 -- CLOSURE Medical Corporation (Nasdaq: CLSR), a medical tissue adhesive products company, today announced that it is initiating a clinical study for LIQUIDERM™ Liquid Healing Bandage for the treatment of minor cuts and abrasions. Results from the clinical study will be used in an anticipated 510(k) submission to the FDA.
LIQUIDERM™ Liquid Healing Bandage would compete in the over-the-counter adhesive bandage category, which exceeds $800 million in worldwide sales.
"The start of the definitive clinical trial for LIQUIDERM™ Liquid Healing Bandage represents a major step in the development of a transformational innovation for Closure Medical", said Robert V. Toni, President and CEO. "We believe our unique adhesive technology could fulfill needs not being met by any adhesive bandage currently on the market."
Preliminary animal studies have shown that LIQUIDERM™ Liquid Healing Bandage creates a moist wound-healing environment and provides a barrier to infection for minor cuts and abrasions. "A moist wound healing environment promotes improved healing of minor cuts and abrasions," said Dr. William Eaglstein, professor and chairman of the Department of Dermatology and Cutaneous Surgery at the University of Miami School of Medicine.
Mr. Toni continued, "LIQUIDERM™ Liquid Healing Bandage is unlike existing adhesive bandages. It creates a long lasting healing environment that requires only one application. It conforms exactly to any wound size providing superior protection from dirt and germs. Additionally, the flexible film stays on bending and moving parts of the body even in water."
The 160 patient multi-center study will be conducted at the University of Miami under the direction of Dr. Eaglstein, the Orlando Regional Healthcare System by Dr. Philip Giordano, the Palm Beach Research Center under Dr. Barry Miskin, and the Skin Study Center by Dr. James Leyden.
CLOSURE Medical Corporation, headquartered in Raleigh, North Carolina, develops, manufactures and commercializes medical tissue adhesive products based on its proprietary cyanoacrylate technology. CLOSURE's nonabsorbable tissue adhesive products may be used to replace sutures and staples for certain topical wound closure applications, while its internal tissue adhesive products can potentially be used for internal wound closure and management. Currently marketed nonabsorbable tissue adhesive products include DERMABOND®* Topical Skin Adhesive, which is used to replace sutures and staples for closure of certain lacerations and incisions, OCTYLDENT* adhesive, which is used as an adjunct in the treatment of adult periodontal disease; and the NEXABAND* line of topical adhesives, which are used in veterinary wound closure and wound management.
* DERMABOND® is a trademark of Ethicon, Inc.; SOOTHE-N-SEAL, LIQUIDERM, 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 products; the progress of its research and development programs for future 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.