CorMedix Inc. Secures First European Commercial Collaboration for Neutrolin®
Bedminster, NJ – April 12th, 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 disease, today announced its first commercial collaboration for the Company’s CE Marked flagship product Neutrolin®. CorMedix entered into an exclusive commmercial agreement with Toulouse-based Hemotech SAS, a company that delivers a full range of high quality dialysis products and services. Under the agreement, Hemotech will launch CorMedix-supplied Neutrolin in France and certain overseas territories and serve as CorMedix’s marketing partner for these regions.
“Hemotech is the ideal partner for these territories, covering 92% of French dialysis organizations, and has a major presence in the hospital settings to cover both the Oncology and ICU Catheter lock solution needs,” said Khoso Baluch, President and CEO of CorMedix. “We intend to continue making use of attractive opportunities to establish additional commercial partnerships to broaden Neutrolin sales abroad and to pursue the same upon approval in the U.S. In addition to our efforts to advance therapeutic and medical device applications for our taurolidine-based technology, executing this commercial agreement exemplifies our continued dedication to generating shareholder value.”
“Having served the hemodialysis community for nearly 30 years, Hemotech has a rich history of introducing innovative products that have the potential to create new standards in healthcare,” stated Philippe Leclerc, Chief Operating Officer of Hemotech. “We’re excited to offer our customers Neutrolin, which peer-reviewed post-marketing studies have demonstrated to be associated with 96.0% reduction in the rate of catheter-related bloodstream infections and 96.7% reduction in thrombosis compared to published historical benchmarks of 3.5 CRBSIs and 2-3 episodes of thrombosis per 1,000 catheter days. As the largest independent company in the French dialysis market, we are proud to add CorMedix to our roster of global commercial partners and look forward to introducing Neutrolin to our clients in the hemodialysis community.”
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. 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 of commercial partners to successfully market Neutrolin®; 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; the risks and uncertainties associated with CorMedix’s ability to manage its limited cash resources; 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.