Full Press Release Details
INC. ANNOUNCES APPOINTMENT OF CHIEF FINANCIAL OFFICER
Heights, NJ - May 11, 2020 - 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 it has appointed Matt David, M.D. as the Company's Executive Vice President and Chief Financial
Officer. Dr. David will participate in the Company's Conference Call discussing its First Quarter 2020 financial
results and recent corporate developments today at 4:30pm Eastern time.
am pleased that Matt has agreed to join the Company at this most exciting time," said Khoso Baluch, CorMedix Chief Executive
Officer. "With his medical background and his significant experience in healthcare capital markets and strategy, he will
fill an important role as we continue our preparations to commercialize Neutrolin, whether on our own or with a strategic or commercial
David was most recently Head of Strategy at Ovid Therapeutics, a Nasdaq-listed biopharmaceutical company focused on rare neurological
diseases. In addition to his recent experience in industry, Dr. David has more than 15 years of experience in finance as a healthcare
investment banker and earlier as an equity analyst covering the pharma sector.
am thrilled to be joining CorMedix at such an exciting time for the Company," commented Dr. David. "As Neutrolin approaches
a potential regulatory approval later this year, the Company will face a range of strategic decisions all aimed at bringing Neutrolin
to patients who can benefit from it as expeditiously as possible. I am excited by the prospects of this novel product in the substantial
hemodialysis market and look forward to working with the broader CorMedix team."
David earned his M.D. from NYU School of Medicine and was a surgery resident at Beth Israel Hospital. He received his undergraduate
degree in Chemistry from Dartmouth College.
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 for the U.S. market. The Company completed a Phase 3 clinical trial of Neutrolin in patients undergoing chronic hemodialysis,
which showed a 71% reduction in catheter-related bloodstream infections (CRBSIs) relative to the heparin control arm (p=0.0006)
with a good safety profile. Such infections cost the U.S. healthcare system approximately $6 billion annually and contribute significantly
to increased morbidity and mortality. Neutrolin has FDA Fast Track status and is designated as a Qualified Infectious Disease
Product, which provides the potential for priority review of a marketing application by FDA and allows for 5 additional years
of QIDP market exclusivity in the event of U.S. approval. FDA has granted rolling submission and review of portions of the new
drug application (NDA) and CorMedix has begun submission of the NDA. 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.
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, including whether a second Phase 3 clinical trial for Neutrolin will be required; 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. At this time, we are unable to assess whether, and to what extent,
the uncertainty surrounding the Coronavirus pandemic may impact our business and operations. 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.