CorMedix Announces Appointment of Key Positions
Head of Clinical Operations and Project Management
Head of Product Development and Manufacturing
BRIDGEWATER, N.J.--(BUSINESS WIRE)--Aug 10, 2010 - CorMedix Inc. ("CorMedix") (NYSE Amex: CRMD), a pharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of Cardiorenal disease, today announced the appointment of Robert D. Hopkins as head of clinical operations and project management and Dilip Wadgaonkar as head of product development and manufacturing.
In these new roles, Dr. Hopkins will be responsible for developing and overseeing the operational strategies for the Company's clinical products, programs, and services and project management to ensure efficient execution of trials, and Mr. Wadgaonkar will be responsible for product development operations and manufacturing, including product/formulation development, planning, implementation and maintenance of analytical methods, technology transfer, processes and operations for new products and technologies.
"Robert Hopkins and Dilip Wadgaonkar bring to CorMedix a wealth of industry knowledge and experience in each of their respective roles, which will be of significant value as we continue to advance our Phase II clinical program of CRMD-001, (a proprietary formulation of deferiprone) for the prevention of contrast-induced acute kidney injury, in addition to preparing our Investigational Device Exemption filing and anticipated subsequent initiation of our pivotal clinical study for CRMD-003, (Neutrolin®) for the prevention of catheter related bloodstream infections and clotting in hemodialysis," stated John C. Houghton, president and chief executive officer of CorMedix.
Dr. Hopkins has over a decade of clinical operations and project management experience, with a Doctorate of Veterinary Medicine and Masters of Science Biology. Most recently, Dr. Hopkins served as associate director, project management at Quintiles Transnational, Inc., where he had the responsibility of managing multiple projects, establishing SOPs, policies and procedures for client's clinical programs. Dr. Hopkins' prior experience includes serving as the senior project manager for PRA International, and clinical trial project manager at Pfizer, Inc. Dr. Hopkins will report to Mark T. Houser, M.D. MBA, CorMedix's chief medical officer.
Mr. Wadgaonkar brings to CorMedix over 20 years of formulation and manufacturing experience, with a Ph.D. in Pharmaceutics and a Masters of Science and Pharmacy. Most recently, Mr. Wadgaonkar served as head of research and development at Sun Pharmaceutical Industries Inc., where he was responsible for establishing the research and development manufacturing processes, and supporting the regulatory affairs divisions for all new drug applications. Mr. Wadgaonkar's prior experience includes serving as the vice president of research and development for Interpharm Inc., where he oversaw research and development activities including formulation development, analytical aspects, Abbreviated New Drug Application compilation and technology transfer, in addition to serving at Barr Laboratories, Hoffman La Roche, and Wyeth. Mr. Wadgaonkar will report to John C. Houghton, CorMedix's president and chief executive officer.
CorMedix Inc. is a pharmaceutical company that seeks to in-license, develop and commercialize therapeutic products for the prevention and treatment of cardiac and renal dysfunction, also known as cardiorenal disease. CorMedix's goal is to treat kidney disease by reducing the commonly associated cardiovascular and metabolic complications, in effect, treating the kidney to treat the heart. CorMedix currently has several product candidates in development, including its two most advanced product candidates: CRMD-003 (Neutrolin®) for the prevention of central venous catheter infection and clotting in hemodialysis; and CRMD-001 (a proprietary formulation of deferiprone) for the prevention of contrast-induced nephropathy in high-risk patients with chronic kidney disease. Please see www.cormedix.com for additional information.
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, 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 outcome of clinical trials of CorMedix's drug candidates and whether they demonstrate these candidates' safety and effectiveness; the risks and uncertainties associated with: obtaining additional financing to support CorMedix's research and development and clinical activities and operations; obtaining regulatory approvals to conduct clinical trials and to commercialize CorMedix's drug candidates; CorMedix's ability to enter into and maintain collaborations with third parties for its drug development programs; CorMedix's dependence on its collaborations and its license relationships; achieving milestones under CorMedix's collaborations; CorMedix's' dependence on preclinical and clinical investigators, preclinical and clinical research organizations, manufacturers and consultants; protecting the intellectual property developed by or licensed to CorMedix; and CorMedix's ability to maintain listing on NYSE Amex. These and other risks are described in greater detail in CorMedix's filings with the Securities and Exchange Commission. 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 disclaims any intent or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
Contact: CorMedix Inc.
Brian Lenz, 908-517-9486
Chief Financial Officer
BPC Financial Marketing
John Baldissera, 800-368-1217