Exhibit 99.1
CORMEDIX INC. APPOINTS ALAN W. DUNTON, M.D. TO BOARD OF
DIRECTORS
Berkeley Heights, NJ – March 4, 2019 – CorMedix Inc. (NYSE American: CRMD),
a biopharmaceutical company focused on developing and
commercializing therapeutic products for the prevention and
treatment of infectious and inflammatory disease, today announced
that Alan W. Dunton, M.D. has been appointed unanimously to the
Company’s Board of Directors. Dr. Dunton becomes the sixth
member of the Company’s Board, filling a vacant seat
previously occupied by Gary Gelbfish, M.D., who resigned in January
2019.
Khoso
Baluch, CorMedix Chief Executive Officer stated, “I am
excited to have Alan join the board of CorMedix. His significant
experience in senior capacities and more recently as a consultant
within the pharmaceutical industry will be important to us as we
complete Neutrolin’s development and prepare to file the New
Drug Application. He has participated significantly in developing
and achieving approval of over 20 prescription and OTC drugs. He
has led major pharma R&D and regulatory divisions and has been
a director of approximately 20 public and private companies. We are
pleased to have the benefit of his advice, experience and
counsel.”
Dr.
Dunton commented, “I am excited to be part of the CorMedix
board. I look forward to making contributions to the continued
success of the Company. I believe that CorMedix’s lead
product Neutrolin, which prevents serious infections in patients
with central venous catheters, will have a profound and positive
impact on medical practice.”
Myron
Kaplan, Chairman of the CorMedix Board of Directors added,
“CorMedix is focused on attracting to its Board individuals
with significant relevant and complementary experience in the
pharmaceutical industry to help complete successfully the
development of Neutrolin as a lock solution for central venous
catheters and to realize the potential of the other
taurolidine-based assets in our product pipeline to produce the
most value we can for our shareholders. Alan’s insights will
be very helpful to us as the work continues towards
Neutrolin’s approval, and we welcome his
involvement.”
Dr.
Dunton has devoted his 35-year career to the discovery and
development of new drug products. Most recently, he was Senior Vice
President of Research and Development at Purdue Pharmaceuticals
L.P., based in Stamford, CT. During his career, Dr. Dunton has
built a successful consulting company, Danerius LLC. He was also
chief executive officer of two biotech companies, and was President
and Managing Director of the Janssen Research Foundation, the
R&D and regulatory arm of the pharmaceutical division of
Johnson & Johnson. His earlier experience includes positions at
Roche, Syntex, and Novartis. Dr. Dunton holds an M.D. from New York
University School of Medicine, where he completed a residency in
internal medicine. He was a Fellow in Clinical Pharmacology at the
New York Hospital/Cornell University Medical Center. In 1987, he
was awarded The Nellie Westerman Prize from the American Federation
for Clinical Research for his work in medical ethics.
Dr.
Dunton currently serves on the boards of two public companies,
Palatin Technologies, Inc. and Oragenics, Inc. He chairs the
compensation committee and is a member of the audit committee of
each of these companies. He is also a member of the board of
Cytogel Pharma LLC, a private
bio-pharmaceutical development company focused on developing
products for pain.
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About
CorMedix
CorMedix Inc. is a biopharmaceutical company focused on developing
and commercializing therapeutic products for the prevention and
treatment of infectious and inflammatory diseases. The Company is
focused on developing its lead product Neutrolin®,
a novel, non-antibiotic antimicrobial solution designed to prevent
costly and dangerous bloodstream infections associated with the use
of central venous catheters, currently in Phase 3 development for
patients undergoing chronic hemodialysis. Such infections have
significant treatment costs and lead to increased morbidity and
mortality. Neutrolin has FDA Fast Track status and is designated as
a Qualified Infectious Disease Product, which provide the potential
for priority review of a marketing application by FDA and
allow for a total of ten years of market exclusivity in the event
of U.S. approval. Neutrolin is already marketed as a CE Marked
product in Europe and other territories. In parallel, CorMedix is
leveraging its taurolidine technology to develop a pipeline of
antimicrobial medical devices, with active programs in surgical
sutures and meshes, and topical hydrogels. The company is
also working with top-tier researchers to develop taurolidine-based
therapies for rare pediatric cancers. For more information,
visit: www.cormedix.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks and uncertainties. All statements, other
than statements of historical facts, regarding management’s
expectations, beliefs, goals, plans or CorMedix’s prospects,
future financial position, financing plans, future revenues and
projected costs should be considered forward-looking. Readers are
cautioned that actual results may differ materially from
projections or estimates due to a variety of important factors,
including: the results of our discussions with the FDA regarding
the Neutrolin development path; the resources needed to complete
the information required to submit a new drug application for
Neutrolin to the FDA; the risks and uncertainties associated with
CorMedix’s ability to manage its limited cash resources and
the impact on current, planned or future research, including the
continued development of Neutrolin and research for additional uses
for taurolidine; obtaining additional financing to support
CorMedix’s research and development and clinical activities
and operations; preclinical results are not indicative of success
in clinical trials and might not be replicated in any subsequent
studies or trials; and the ability to retain and hire necessary
personnel to staff our operations appropriately. These and other
risks are described in greater detail in CorMedix’s filings
with the SEC, copies of which are available free of charge at the
SEC’s website at www.sec.gov or upon request from CorMedix.
CorMedix may not actually achieve the goals or plans described in
its forward-looking statements, and investors should not place
undue reliance on these statements. CorMedix assumes no obligation
and does not intend to update these forward-looking statements,
except as required by law.
Investor Contact:
Dan
Ferry
Managing
Director
LifeSci
Advisors
617-535-7746
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