RALEIGH, N.C., Oct. 16 /PRNewswire/ -- CLOSURE Medical Corporation (the
"Company") (Nasdaq: CLSR), a medical tissue adhesive products company,
announced today that James E. Niedel M.D., Ph.D., until recently the Chief
Science and Technology Officer of GlaxoSmithKline plc, has been elected to the
Company's Board of Directors.
Dr. Niedel, 57, has served on the board of numerous private industry and
non-profit organizations including serving as the Chairman of Glaxo Research
and Development Limited and Affymax Technologies NV as well as a member of the
Board of Directors of Glaxo Wellcome plc from 1995-2001.
Upon completion of his postgraduate medical training at Duke University
Medical Center, Dr. Niedel began his professional career as a scientist at
Burroughs Wellcome Co. In 1980, he returned to Duke University where he
served for approximately nine years as a professor in the Departments of
Medicine, Microbiology and Immunology and Pharmacology and as Chief of
Clinical Pharmacology. Prior to becoming Chief Science and Technology Officer
of GlaxoSmithKline plc, Dr. Niedel served as Vice President of Research and
Senior Vice President for Research and Development at Glaxo Inc. and as the
main board director responsible for worldwide Research and Development,
Information Systems and Product Strategy for Glaxo Wellcome plc.
Dr. Niedel holds bachelor's degrees in Psychology and Chemistry from the
University of Wisconsin and a Ph. D. in Biochemistry and a M.D. from the
University of Miami.
"We feel extremely privileged to have someone of Dr. Niedel's credentials
and experience join our Board of Directors, adding an important compliment to
the already formidable skill sets of its members," said Robert V. Toni,
President and Chief Executive officer. "Dr. Niedel's accomplishments in
medical research and pharmaceutical operations, as well as his overall
understanding of pre-clinical evaluation, clinical trials and the regulatory
process, will be invaluable to CLOSURE as we continue to broaden and enhance
our proprietary cyanoacrylate technology, particularly as it relates to
internal applications and drug delivery."
The addition of Dr. Niedel brings the size of CLOSURE's Board of Directors
to eight members.
About CLOSURE Medical
CLOSURE Medical Corporation, headquartered in Raleigh, North Carolina,
develops, manufactures, and commercializes medical tissue adhesive products
based on its proprietary 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, as well as formulations to close or seal
internal wounds. In addition to its products discussed herein, CLOSURE is
also developing internal adhesives for wound closure and the possible
treatment of emphysema, as well as developing liquid occlusive dressings for
the treatment of a variety of partial thickness wounds, including pressure
ulcers and skin tears.
DERMABOND Topical Skin Adhesive is a topical tissue adhesive used to close
wounds from skin lacerations and incisions, minimally invasive surgery and
plastic surgery. DERMABOND adhesive can be used as a replacement for topical
sutures or staples and is marketed and distributed by Ethicon, Inc., a
division of Johnson & Johnson, the world leader in wound closure products.
LIQUIDERM(TM) adhesive is the first and only cyanoacrylate medical device
approved by the FDA for the over-the-counter ("OTC") adhesive bandage market.
LIQUIDERM(TM) adhesive is painted on the wound, sealing it from dirt and
germs, and creating a healing environment which allows natural healing to take
place quickly. As the wound heals, the adhesive sloughs off naturally.
CLOSURE recently signed a worldwide supply, distribution and development
rights agreement with Johnson & Johnson Consumer Products Company which
includes rights to its LIQUIDERM(TM) adhesive and its overall OTC wound care
platform, including distribution rights to all present and future OTC
products, except for SOOTHE-N-SEAL(TM) adhesive. Distribution of
LIQUIDERM(TM) adhesive by Johnson & Johnson Consumer Products Company is
expected to begin in early 2002.
SOOTHE-N-SEAL(TM) adhesive is indicated for the treatment of oral ulcers
and mouth sores. It forms a protective barrier that shields oral ulcers from
irritation due to eating and drinking while providing immediate and long-term
pain relief. SOOTHE-N-SEAL(TM) adhesive is in the early stages of the product
launch to the professional and consumer markets by Colgate Oral
Pharmaceuticals, Inc.
The NEXABAND(R) liquid adhesive line consists of two products used in
veterinary wound closure and wound care. The adhesives are used in cat declaw
procedures as well as spay and neuter procedures. In July 2001, the Company
entered into an agreement providing Abbott Laboratories ("Abbott") with
worldwide supply, distribution and development rights to the NEXABAND(R)
product line. In accordance with the agreement, Abbott has been granted
immediate worldwide distribution rights to NEXABAND(R) adhesives excluding the
United States and Canada. Upon the expiration of the Company's prior
distribution arrangement in the second quarter of 2002, Abbott can begin the
distribution of NEXABAND(R) products in the United States and Canada.
DERMABOND adhesive is a registered trademark of Ethicon, Inc.; SOOTHE-N-
SEAL(TM) is a licensed trademark of Colgate Oral Pharmaceuticals, Inc.;
LIQUIDERM(TM) is a trademark of CLOSURE Medical Corporation; and NEXABAND(R)
is a registered trademark of CLOSURE Medical Corporation.
To receive CLOSURE's latest news release and other corporate documents
visit the Financial Relations Board's website at http://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; 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, 2000 filed with the
Securities and Exchange Commission.
SOURCE CLOSURE Medical Corporation
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Related links:
http://www.frbinc.com
CONTACT:
Robert V. Toni, President & CEO, or Benny
Ward, CFO, of CLOSURE Medical Corporation, +1-919-876-7800;
General Info, Alison Ziegler, Analyst Info, Julie Tu, or Media
Info, Judith Sylk-Siegel, all of FRB Weber Shandwick,
+1-212-445-8400
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