VALERITAS NAMES INDUSTRY EXPERTS TO ESTABLISH SCIENTIFIC ADVISORY BOARD; WILL ASSIST IN COMMERCIALIZATION OF h-Patch™ INSULIN DELIVERY SYSTEM AND OTHER METABOLIC PRODUCTS
Ramsey, NJ, October 30, 2006 -- Valeritas, LLC, a medical technology company committed to the development and commercialization of innovative drug delivery solutions, announced today that it has appointed six initial members to serve on the company's Scientific Advisory Board, where they will help guide the development of the company's clinical research programs and medical educational efforts.
The initial board members include: Richard M. Bergenstal, MD, Executive Director of the International Diabetes Center; Bruce Bode, MD, Atlanta Diabetes Associates; Stephen N. Davis, MD, FRCP, Chief, Division of Diabetes, Endocrinology & Metabolism at Vanderbilt University; Steven Edelman, Professor U.C. San Diego, Founder & Director of Taking Control of Your Diabetes; Satish K. Garg, MD, Professor of Medicine and Pediatrics University of Colorado Health Sciences Center, and Jay S. Skyler, MD, MACP, Professor & Associate Director, Diabetes Research Institute, University of Miami Miller School of Medicine.
"We are pleased that these distinguished experts have agreed to form our advisory board. Each of them brings a distinct expertise that will help us achieve our corporate mission - to enhance the quality of life of patients with diabetes and those suffering from other chronic diseases," said Robert R. Gonnelli, President and Chief Executive Officer of Valeritas, and the company's founder. "We are certain to benefit from their collective knowledge in the development of Valeritas products. Our ability to attract such talent is emblematic of the potential for this company and our products, including h-Patch, scheduled for commercial launch in late 2007."
"Valeritas has a number of truly innovative products in development for those suffering from Type 2 diabetes and other chronic diseases," said Dr. Jay Sklyer. "I am excited to be collaborating with a team of such accomplished professionals as the company prepares to take an important step forward in the treatment of the diabetic community."
"I look forward to playing a role in advancing Valeritas' research and development efforts, and I am particularly excited about the opportunities of the h-Patch," said Dr. Stephen Davis. "By the time most of the 20 million Type 2 patients in the United States are diagnosed, they will have 50% or greater loss in beta cell function and will need exdogenous insulin. The h-Patch's easy-to-use method of delivering both basal and prandial insulin therapy will directly address this critical need."
Commenting further on the benefits of h-Patch, Dr. Steven Edelman said, "I believe that Valeritas' h-Patch will revolutionize the treatment of Type 2 diabetes. It is a minimally invasive, discrete and easy-to-use drug delivery system with simple basal and meal time dosing that will encourage greater patient compliance and ultimately more effective treatment.
Agreeing with Dr. Edelman, Dr. Satish Garg commented, "Advancing to multiple daily insulin injections has been one of the greatest challenges for the more than 3.5 million Type 2 diabetes patients who are already on some form of insulin. The h-Patch promises to eliminate this challenge with its innovative delivery solution. In essence, it will allow healthcare providers to offer more physiologic intensive therapy to a much larger Type 2 patient population."
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™ insulin delivery system. The h-Patch™ 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™ is the smallest known FDA-cleared insulin delivery system with basal-bolus capability and no visible needle. The h-Patch™ 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™ for the delivery of insulin, Valeritas' delivery technology portfolio includes h-Patch™ for the delivery of other compounds beyond insulin, and e-Patch™ Controlled Release Disposable Micro Pump System, Mini-Ject™ Pre-Filled Needle-Free Delivery System and the Micro-Trans™ 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, MA.