Innocoll Announces Closing of $30 Million Equity Financing ...(IMPLANT GARAMYCIN(R) SCHWAMM DURACOL(R) ...)

Date:12/17/2007

IMPLANT, GARAMYCIN(R) SCHWAMM, DURACOL(R), DURACOLL(R), GENTACOL(R), GENTACOLL(R), GARACOL(R), GARACOLL(R), and CRONOCOL(R). In 2005, Innocoll acquired the worldwide marketing rights from Essex Chemis AG, an affiliated company of Schering Plough Corporation (NYSE: SGP) and in August 2007 sold its marketing rights, with the exception of the U.S., to EUSA Pharma. GENTAMICIN SURGICAL IMPLANT is currently in phase 3 clinical development in the U.S. for the prevention of surgical site infections. Innocoll will conduct two US multi- centered phase 3 clinical trials; one in cardiac surgery patients at higher risk of surgical site infection and the other in patients undergoing open colorectal surgery. Innocoll has appointed Duke University's Duke Clinical Research Institute (DCRI) as the Study Co-ordinating Center for both trials. Independent market research recently performed by L.E.K. Consulting has projected peak U.S. sales of GENTAMICIN SURGICAL IMPLANT at more than $200 million per annum.

Other late stage pharmaceutical products in Innocoll's development pipeline include CollaRx GENTAMICIN TOPICAL for the treatment and prevention of infected diabetic foot ulcers and CollaRx BUPIVACAINE IMPLANT for the management of post-operative pain, which are both in Phase 2 clinical trials.

CollaRx GENTAMICIN TOPICAL represents the clinical development of the marketed GENTAMICIN SURGICAL IMPLANT for the topical treatment and prevention of infection in chronic skin ulcers, such as diabetic foot. A high proportion of chronic wounds become clinically infected requiring treatment with antibiotics. Orally administered and injected antibiotics are often associated with systemic side effects and widespread use can lead to develop
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SOURCE Innocoll, Inc. Copyright©2007 PR Newswire. All rights reserved

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