Piedmont Pharmaceuticals Secures $8.5 Million Investment

    GREENSBORO, N.C., Nov. 12 /PRNewswire/ -- Piedmont Pharmaceuticals LLC,
 a specialty pharmaceutical company focused on parasitology and drug
 delivery systems for human and companion animal use, has secured $8.5
 million in Series B financing from CM Capital Investments of Brisbane,
 Australia, and other accredited investors.
     This funding will help advance development of Piedmont Pharmaceuticals'
 pipeline, particularly the U.S. Phase III clinical trials of its unique
 patented, insecticide-free head lice treatment. Through licensees abroad,
 this pediculicide rinse is already approved and is the market leader in the
 United Kingdom and Ireland (under the name Full Marks Solution(R)) and
 gaining market share in Canada (as RESULTZ(R)). While no timetable has been
 set, Piedmont Pharmaceuticals anticipates expanding distribution of the
 product through licensees in the European, Asian and Australasian markets.
     "We are very pleased to be working with an investment company of CM
 Capital's geographical scope and expertise," said Roland Johnson, CEO and
 Chairman of the Board for Piedmont Pharmaceuticals. "We believe this
 investment, the first major institutional backing for Piedmont
 Pharmaceuticals, sends a strong signal about our company's progress and
 potential. As we move our pediculicide compound through Phase III trials
 and continue developing the rest of our portfolio, we welcome the guidance
 and global connections that CM Capital can offer."
     "CM Capital invests in companies that can achieve market leadership
 positions in their respective market sectors," said Andy Jane, partner at
 CM Capital Investments. "With its talented and proven team of industry
 veterans, Piedmont Pharmaceuticals has an excellent opportunity to succeed
 in both the human and animal health markets in the U.S. and beyond."
     Members of Piedmont Pharmaceuticals' team have worked together in the
 health care industry for more than 20 years, bringing more than 11 products
 to market. In addition to the pediculicide rinse, Piedmont Pharmaceuticals'
 pipeline includes a topical treatment for otitis media in humans and a
 chewable drug delivery platform for companion animals, both in preclinical
 stages.
     About Piedmont Pharmaceuticals:
     Piedmont Pharmaceuticals LLC is a Greensboro, N.C. - based specialty
 pharmaceutical company focused on human and animal health therapeutics in
 such select areas as parasitology and the treatment of infection. The
 company's currently commercialized products and advanced development
 program leverage unique modes of action and proprietary delivery
 technologies. Piedmont Pharmaceuticals develops new formulations, uses and
 delivery vehicles for known active pharmaceutical compounds for human and
 companion animal health markets.
     About CM Capital Investments:
     CM Capital is headquartered in Brisbane, Australia and is one of the
 pioneers of the Australian Venture Capital industry. They have over $270m
 under management and are one of Australia's leading early stage VC fund
 managers. Their investor base consists of some of Australia's leading
 superannuation funds and financial institutions. CM Capital is staffed by
 industry professionals with strong operational expertise and focuses its
 investments in the areas of life sciences, biotechnology and
 telecommunications/IT.
     Note: Full Marks Solution(R) is a registered trademark of SSL
 International PLC, a licensee of Piedmont Pharmaceuticals.
 
 

SOURCE Piedmont Pharmaceuticals LLC