The combined Company will use the proceeds to develop Corium's pipeline ofadvanced transdermal products employing its proprietary MicroCor(TM)microneedle technology and Corplex(TM) polymer adhesive technology. TheCompany will also use proceeds to develop products based on StrataGent'sliquid microjet drug delivery technology.
Robert Thomas, currently CEO of StrataGent and former CEO of FoxHollowTechnologies, Inc., will serve as CEO of the combined company, while RonEastman of Essex Woodlands Health Ventures will become the Company's chairman.Joining Mr. Eastman on the board of directors will be Corium co-founder GaryCleary and StrataGent co-founder Ravi Srinivasan.
"Corium and StrataGent create a formidable platform for developing andmanufacturing advanced drug products delivered through the skin. In addition,Corium brings an existing and fast growing revenue pipeline that generatessignificant profits," noted Robert Thomas. "I am excited by the potential ofthis combination and its new partnership with a group of seasoned investors."
"Corium is thrilled to partner with a premier healthcare venture firm likeEssex Woodlands Health Ventures. The financing and the expertise of the EssexWoodlands team will be invaluable in advancing Corium's rich pipeline ofMicroCor and Corplex-based products through clinical trials tocommercialization," remarked Gary Cleary. "StrataGent's liquid microjecttechnology will further solidify our leadership in the advanced drug deliverymarket."
Corium is headquartered in Menlo Park, CA, with manufacturing facilitiesin Grand Rapids, MI. StrataGent will relocate to the Corium Menlo Parkheadquarters.
About Corium International, Inc.
Corium International, Inc. is a privately-owned company engaged in theresearch, development and manufacture of advanced transdermal drug deliverytechnologies and products. Using its proprietary delivery technologies and itsdevelopment and manufacturing expertise, Corium has developed a number ofactive and passive transdermal products with enhanced therapeutic or safetyprofiles. This self-funded product pipeline spans several therapeutic areasand is in various stages of development. Corium also has several
partner-funded products with small, medium and large pharmaceutical companiesin various stages of development, ranging from manufacturing to research anddevelopment. Please visit http://www.coriumgroup.com
About StrataGent Life Sciences, Inc.
StrataGent Life Sciences, Inc. is a specialty drug delivery companydeveloping products for painless, needle-free administration of otherwiseinjectable drugs. Its products are based on its proprietary microjettechnology that delivers large and small therapeutic molecules without adevice penetrating into or through the skin. In May of 2004, StrataGentreceived a $2 million award from the Advanced Technology Program (ATP) at theNational Institute of Standards and Technology to support the development ofthe StrataGent microjet technology. Earlier this year, StrataGent announced a$16M Series B financing led by Essex Woodlands.
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