CorMedix Appoints Pharmaceutical Veteran, Matthew Duffy to Board of Directors

CorMedix Inc. ("CorMedix") CRMD -11.43% , a pharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of Cardiorenal disease, today announced the appointment of Matthew Duffy to its Board of Directors.Mr. Duffy has extensive pharmaceutical experience which includes early stage product development through the launch of several large marketed products. Mr. Duffy began his career at Pfizer, Inc. holding a series of executive positions in sales, marketing and product management. At Pfizer, he worked on over 10 different pharmaceutical products, including treatments for depression, diabetes, infectious diseases, urologic disorders and hypertension. Mr. Duffy was the first product manager for Viagra(R). Mr. Duffy led the marketing group at MedImmune, Inc. from 1995 to 2001, where he was responsible for the launch of both RespiGam and Synagis for the prevention of respiratory disease in premature infants, as well as new indications for CytoGam in the transplantation field. Synagis sales have exceeded $1 billion. In addition to working on various product launch efforts, Mr. Duffy also was responsible for market and product evaluations for MedImmune's development pipeline, as well as the company's customer service call center. Mr. Duffy led commercial operations at Lev Pharmaceuticals, overseeing launch preparations for Cinrzye, an Orphan Drug for the treatment of hereditary angioedema, including forming the sales team, developing the marketing plan, distribution plan, managed care strategy and patient services infrastructure. Currently Cinryze has annualized sales over $250 million.He is currently a managing partner and founder of Black Diamond Research, LLC, which was an independent sell-side research firm specializing in healthcare and currently provides consulting services to industry. Mr. Duffy received his undergraduate degree from Duke University. He holds the series 7, 63 and 65 securities licenses. Mr. Duffy is also a managing member of NSIP LLC; member, and member of the Executive Committee of Ellington Asset Management, LLC, a healthcare focused venture capital fund."We are very pleased to announce the appointment of Matthew to our Board of Directors at this juncture of the Company. We look forward to utilizing Matthew's vast pharmaceutical experience which encompasses launching products along with business and product development," commented Richard Cohen, Executive Chairman and Interim Chief Executive Officer of CorMedix."Having previously been responsible for the development planning and launch of several successful pharmaceutical products, I look forward to bringing my pharmaceutical experience to help the Company achieve its goals," stated Mr. Duffy.