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|
J. DANIEL COLE JOINS BOARD OF CLOSURE MEDICAL CORPORATION
RALEIGH, NC (July 1, 2003) … CLOSURE Medical Corporation (Nasdaq:CLSR), a global leader in medical adhesives, announced today that J. Daniel Cole, 56, has been appointed to the Company’s Board of Directors.
Cole has over twenty years of experience in the medical device industry and has served on the board of numerous private industry and public organizations including Corazon Technologies, Acorn Cardiovascular and Thoratec Corporation. Since 1997, Cole has served as a general partner at Spray Venture Partners in Boston which focuses exclusively on the healthcare technology market.
Prior to joining Spray Venture
Partners Cole served in many executive roles, including Senior Vice-President
and Group President of the vascular businesses at Boston Scientific Corporation
from 1995 to 1997 and, prior to that, President & Chief Operating Officer
of SciMed Life Systems, Inc. From 1982 to 1993, Mr. Cole held several positions
with Baxter International, Inc., most recently as President of the Edwards
Critical Care Division.
“ We are extremely pleased to have someone with Dan’s credentials join CLOSURE’s Board. His extensive experience within the medical device industry, particularly leading organizations experiencing rapid growth, will be invaluable to CLOSURE as we continue our efforts to expand our business,” said Daniel A. Pelak, President and Chief Executive Officer.
Cole holds a B.S. in Aeronautical Engineering from the University of Kansas, an M.S. in Aeronautical Engineering from the United States Navy Post-Graduate School and an M.B.A. from the University of California, Los Angeles.
“ I look forward to this new opportunity and involvement with a company that I believe has outstanding potential. First, the overall fundamentals of CLOSURE’s current business appear to be very sound. Beyond that, I believe its proprietary technology could provide numerous opportunities that could support the longer term growth of the Company,” said Cole.
About CLOSURE Medical Corporation
CLOSURE Medical Corporation is a global leader in the development, manufacture, and commercialization of medical adhesives 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, 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.