NEWTOWN, Pa., April 16 /PRNewswire/ -- CollaGenex Pharmaceuticals, Inc.
(Nasdaq: CGPI), which is using proprietary technology to develop the first
orally administered drug indicated for the treatment of periodontal disease,
today announced the election of Peter R. Barnett, DMD, to its board of
directors.
Dr. Barnett is Chief Operations Officer of United Dental Care, Inc., the
fourth largest dental managed care company in the U.S., and has twenty years
of management experience in diversified health-related businesses, including
Prudential's dental maintenance organization and Pearle Vision, Inc. Dr.
Barnett is also a licensed dentist and holds an M.B.A. degree from The Wharton
School of the University of Pennsylvania.
"We are delighted to welcome Dr. Barnett to our board of directors," said
Brian M. Gallagher, Ph.D., President and Chief Executive Officer. "His
experience in the dental managed care industry and his background in dentistry
will be a valuable asset to CollaGenex as we prepare for the launch of
Periostat following FDA approval."
"CollaGenex has the potential to be a significant contributor to dental
health," Dr. Barnett said. "With Periostat, dentistry is on the verge of
being able to stop the progression of a major disease at the time of its
detection. This is a cost-effective treatment which should result in greater
patient comfort and convenience."
CollaGenex is an emerging pharmaceutical company which is developing and
commercializing innovative proprietary medical therapies for the treatment of
periodontal disease and other dental pathologies. The Company's core
technology involves inhibiting the activity of certain enzymes that destroy
the connective tissues of the body. In addition to periodontal disease, the
Company and its collaborators are researching and developing other potential
applications of the core technology, including cancer metastasis, wound
healing, osteoarthritis, osteoporosis, rheumatoid arthritis and diabetic
nephropathy. Founded in 1992, the Company completed an initial public
offering of two million shares of common stock in June 1996.
SOURCE CollaGenex Pharmaceuticals, Inc.
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CONTACT: Brian M. Gallagher, Ph.D., president & chief executive officer of CollaGenex Pharmaceuticals, 215-579-7388; General Info, Jerry Meyer, Analyst Info, Brian Gill, or Media Info, Gil Faggen, of The Financial Relations Board, 212-661-8030, for CollaGenex Pharmaceuticals
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