RALEIGH, N.C., Dec. 21 /PRNewswire/ -- CLOSURE Medical Corporation
(Nasdaq: CLSR) today announced that it has entered into a definitive agreement
providing Colgate Oral Pharmaceuticals, Inc. ("Colgate"), a subsidiary of
Colgate-Palmolive Company (NYSE: CL), with supply, distribution and
development rights to the Company's SOOTHE-N-SEAL(TM) Canker Sore Relief
("SOOTHE-N-SEAL") technology. Under this agreement, Colgate has acquired
worldwide rights to market, sell and distribute SOOTHE-N-SEAL and future oral
care products, based upon CLOSURE's proprietary cyanoacrylate technology, to
both professional and consumer markets. Financial terms of the transaction
were not reported.
Robert Toni, CLOSURE's President and CEO, said "Our strategy is to align
ourselves and our products with market leaders and we are very excited to
partner SOOTHE-N-SEAL with Colgate, the worldwide leader in oral care." He
further noted, "Colgate is uniquely positioned to generate significant trial
and awareness of SOOTHE-N-SEAL through both its professional and consumer
marketing expertise."
SOOTHE-N-SEAL is the first cyanoacrylate medical device approved by the
FDA for the over-the-counter consumer market. In a multi-center clinical
study, SOOTHE-N-SEAL was found to provide immediate and long-term pain relief
associated with oral ulcers. Additionally, the product forms a protective
barrier that shields the ulcer from irritation due to eating and drinking.
SOOTHE-N-SEAL utilizes the same proprietary technology as the Company's
professional product DERMABOND(R) Topical Skin Adhesive ("DERMABOND").
DERMABOND is used in hospitals as an alternative to sutures and staples in
closing incisions and lacerations.
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(R)* Topical Skin Adhesive, which is used to replace sutures and
staples for closure of certain lacerations and incisions, OCTYLDENT(R)*
adhesive, which is used as an adjunct in the treatment of adult periodontal
disease; and the NEXABAND(R)* line of topical adhesives, which are used in
veterinary wound closure and management.
* DERMABOND(R) adhesive is a trademark of Ethicon, Inc.; SOOTHE-N-SEAL(TM)
canker sore relief and LIQUIDERM(TM) adhesive are trademarks of CLOSURE
Medical Corporation. OCTYLDENT(R) adhesive and NEXABAND(R) adhesives are
federally registered 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 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, 1999 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, both of CLOSURE Medical Corporation, 919-876-7800;
General Info, Stuart Z. Levine, Ph.D., Analyst Info, Cecelia
Heer, or Media Info, Deanne Eagle, 212-661-8030, all of The
Financial Relations Board
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