RALEIGH, N.C., Feb. 16 /PRNewswire/ -- CLOSURE Medical Corporation
(Nasdaq: CLSR) today announced that the Japanese Ministry of Health and
Welfare cleared DERMABOND(R) Topical Skin Adhesive for marketing in Japan.
For the past two years, Closure has been working closely with ETHICON, INC., a
subsidiary of Johnson & Johnson, and the Japanese Ministry of Health and
Welfare to gain approval for DERMABOND(R).
The population of Japan, at approximately 125 million individuals,
represents slightly less than one-half the population of the United States.
The wound closure market in Japan is approximately $500 million and growing 9%
per year, according to Global Industry Analysts, Inc.
"The Japanese approval represents the final significant regulatory hurdle
for DERMABOND(R) in order to be marketed worldwide. Japan represents nearly
13% of the world's total wound closure market," states Robert V. Toni,
President and CEO. "Although the surgical practices and distribution methods
in Japan are different from those found in the United States, we believe that
ETHICON, INC., the worldwide leader in suture sales, is well positioned to
bring DERMABOND(R) to Japanese physicians, surgeons and other health care
providers," added Toni.
Based on the timing of the Japanese approval by the Japanese Ministry of
Health and Welfare, Closure anticipates that ETHICON will initiate the
marketing effort in Japan during the second quarter of 2000. The product is
currently marketed in 32 countries throughout the world.
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(R) is a trademark of Ethicon, Inc.; SOOTHE-N-SEAL, 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. Visit
the Financial Relations Board's website at http://www.frbinc.com or the Closure
Medical website at http://www.closuremed.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.
SOURCE CLOSURE Medical Corporation
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Related links:
http://www.closuremed.com
CONTACT:
Robert V. Toni, President & CEO, or J. Blount
Swain, CFO of CLOSURE Medical Corporation, 919-876-7800; or
General Info, Paul Henning, Analysts, Cecelia Heer, or Media
Info, Deanne Eagle, of The Financial Relations Board,
212-661-8030
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