CorMedix Inc. Appoints John L. (Jack) Armstrong to Senior Leadership Team
Bedminster, NJ – March 2, 2017 – CorMedix Inc. (NYSE MKT: CRMD), a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases, today announced that John L. (Jack) Armstrong, has been appointed Executive Vice President of Technical Operations and Head of Human Resources. Mr. Armstrong has been a consultant to CorMedix, serving in a similar role since October 2014, and now joins the company’s recently expanded senior leadership team, bringing decades of broad pharmaceutical industry experience.
Khoso Baluch, Chief Executive Officer of CorMedix, said, “A major factor for enabling our advancement of Neutrolin® toward potential U.S. approval has been aligning our internal resources to maximize our efficiency and productivity, and to this end Jack has proven invaluable. We believe completing our senior management team with CFO Robert Cook and CMO Dr. Judith Abrams, and now formalizing the appointment of Jack to oversee technical operations and HR will further support successful execution of our Neutrolin Phase 3 program and other strategic initiatives designed to drive shareholder value.”
Jack Armstrong has more than 40 years of experience in the pharmaceutical industry with broad cross-functional experience in all facets of supply chain and quality assurance, and has held a number of general management positions. Most recently, he was President of Correvio, a private company supplying product to more than 60 countries. Prior to that, Mr. Armstrong was President and CEO of Genaera Corporation, Senior Vice President of Urocor Corporation, CEO of Mills Biopharma, President of Endo (subsidiary of DuPont Merck), President of World-wide Manufacturing for DuPont Merck, and Vice President Operation for Marion/Marion Merrill Dow. He has also held roles in manufacturing, quality assurance, and integrated business systems development, all of which have led to significant experience in business development.
About CorMedix Inc.
CorMedix Inc. is a biopharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory disease. 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. Such infections cost the U.S. healthcare system approximately $6 billion annually and contribute significantly to increased morbidity and mortality. Neutrolin is currently in a Phase 3 clinical study in patients undergoing chronic hemodialysis via a central venous catheter. The company is planning to conduct its second Phase 3 study in patients with cancer receiving IV parenteral nutrition, chemotherapy and hydration via a chronic central venous catheter, subject to sufficient resources. If successful, the two pivotal studies may be submitted to the FDA for potential approval for both patient populations. Neutrolin has FDA Fast Track status and is designated as a Qualified Infectious Disease Product, contributing to potentially accelerated FDA review and up to 10 years of market exclusivity upon potential U.S. approval. It is already a CE Marked product in Europe and other territories. CorMedix is also seeking to unlock additional value for its taurolidine-based technology by establishing collaborative partnerships in oncology and medical device applications. For more information visit: www.cormedix.com.
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 ability to retain and hire necessary personnel to staff our operations appropriately; the cost, timing and results of the ongoing and planned Phase 3 trials for Neutrolin® in the U.S. and the resources needed to commence and complete those trials; obtaining additional financing to support CorMedix’s research and development and clinical activities and operations; and the risks and uncertainties associated with CorMedix’s ability to manage its limited cash resources. 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.