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Valeritas Hires Senior Account Management Industry Expert for the Launch of the h-Patch(TM) Disposable Insulin Delivery Device

Jim Slevin Joins from CV Therapeutics as Senior Director of Account

Management, Integrated Healthcare Management

PARSIPPANY, N.J., Oct. 8 /PRNewswire/ -- Valeritas, LLC, a medical technology company committed to the development and commercialization of innovative drug delivery solutions, announced today that it has hired Jim Slevin to serve as the Senior Director of Account Management, Integrated Healthcare Management.

Mr. Slevin will join the Integrated Healthcare Management team reporting directly to Matt Nguyen, PharmD. Jim will be responsible for reimbursement strategies, marketing programs and contract development with national, regional, and government payers for Valeritas products in the metabolism arena. In the near term, he will focus on the h-Patch(TM) -- a once-daily, disposable insulin delivery device that is scheduled for a regional launch in Q1 2008.

"Jim comes to Valeritas with more than 20 years of experience in account management, during which he developed vast relationships and earned significant respect from his customers," said Robert Gonnelli, President and CEO of Valeritas. "Jim has been part of managed care since its infancy, has seen it grow and evolve, and knows the importance of success in this arena. His stellar track record in previous launches to ensure access and more importantly, preferred status, will no doubt contribute to the overall success of the h-Patch(TM) launch."

"Being part of the h-Patch(TM) launch is truly exciting," said Mr. Slevin. "The burden of diabetes in the U.S. from a payor's perspective is significant. The h-Patch(TM) is a first-in-class technology with a significant opportunity to improve patient care. With its ease of use and potential to improve patient compliance and control, h-Patch(TM) utilization can help reduce overall healthcare costs for patients with diabetes. I look forward to working with my customers to share the cost-benefits associated with the h-Patch(TM)."

Matt Nguyen, the company's Vice President of Integrated Healthcare Management, added, "Jim has a proven track record of success. He has developed strong personal relationships with key individuals in the managed care industry and he has helped support the successful launch of several new products during his career. We are excited to have Jim join the team and I am confident he will deliver the most appropriate strategies to ensure reimbursement and contracting success for the launch of h-Patch(TM)."

Mr. Slevin joins the company from CV Therapeutics, where he was responsible for national accounts and was rated top national account manager in 2006. Prior to joining CV Therapeutics, Mr. Slevin held a variety of account management and managed care positions at Kos Pharmaceuticals, Knoll Pharmaceuticals, Sandoz Pharmaceuticals, and Hoechst-Roussel Pharmaceuticals.

About Valeritas, LLC

Valeritas is a medical technology company committed to developing and commercializing innovative drug delivery solutions that directly improve clinical and humanistic outcomes for patients, with an initial focus on the treatment of diabetes.

Valeritas' medical technologies portfolio is headlined by the h-Patch(TM) insulin delivery system. The h-Patch(TM) is a simple-to-use, once-daily disposable basal and on-demand bolus delivery system that will enable the millions suffering from Type 2 diabetes to discreetly and conveniently deliver insulin throughout the day, including around meals. Developed to help enhance a patient's glycemic control, the h-Patch(TM) is the smallest known FDA- cleared insulin delivery system with basal-bolus capability and no visible needle. The h-Patch(TM) has received FDA 510(k) clearance, and Phase IV clinical trials are running to support broad marketing and reimbursement claims. In addition to h-Patch(TM) for the delivery of insulin, Valeritas' delivery technology portfolio includes h-Patch(TM) for the delivery of other compounds beyond insulin, and e-Patch(TM) Controlled Release Disposable Micro Pump System, Mini-Ject(TM) Pre-Filled Needle-Free Delivery System and the Micro-Trans(TM) Microneedle Transdermal Delivery Patch. These technologies, when combined with certain compounds, are designed to provide unique products that allow precise dosing in previously difficult to treat conditions.

Headquartered in Parsippany, N.J., Valeritas operates its R&D and clinical manufacturing in a state-of-the-art manufacturing and R&D facility in Shrewsbury, Mass.

SOURCE Valeritas, LLC
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