Corium, StrataGent merge:
This article was originally published in Clinica
Executive Summary
Transdermal technology specialist Corium International is to merge with StrataGent Life Sciences, a fellow drug delivery company, as part of a $25.1m series C financing. The round was led by Essex Woodlands Health Ventures, which was an investor in StrataGent. The proceeds from the fundraising will be used to develop products based on Corium's MicroCor microneedle and Corplex polymer adhesive technologies, and on StrataGent's liquid microjet drug delivery platform. Robert Thomas, currently CEO of StrataGent and former CEO of FoxHollow Technologies, will serve as CEO of the combined company, while Ron Eastman of Essex Woodlands will become the company's chairman. Corium co-founder Gary Cleary and StrataGent co-founder Ravi Srinivasan will join the board of directors. StrataGent will relocate to Corium's headquarters in Menlo Park, California.
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