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CPEX Pharmaceuticals, Inc. is an emerging specialty pharmaceutical company, incorporated in the state of
Delaware, with its principal executive offices located at 2 Holland Way, Exeter, New Hampshire. We are
in the business of development, licensing and commercialization of pharmaceutical products utilizing our
validated drug delivery technology. We have U.S. and international patents and other proprietary rights
to technologies that facilitate the absorption of drugs. Our platform drug delivery technology enhances
permeation and absorption of pharmaceutical molecules across the skin, nasal mucosa and eye through
formulation development with proprietary molecules such as CPE-215®. We have licensed an application of
our proprietary CPE-215 drug delivery technology to Auxilium Pharmaceuticals, Inc. (“Auxilium”), which
led to the launch of Testim® in the United States in February 2003, the first product incorporating our
CPE-215 drug delivery technology. We have additional licensed applications and are in discussions with
other pharmaceutical and biotechnology companies to form additional strategic alliances to facilitate the
development and commercialization of other products using our drug delivery technologies.
Our research and development programs for our drug delivery technologies are primarily focused on the
development of Nasulin™, our intranasal insulin product candidate. We have completed two Phase 2a studies
for Nasulin in patients with Type 1 diabetes patients using our CPE-215 technology, one in the U.S. and one
in India. In early 2009, we initiated a Phase 2a, randomized, parallel, double-blind, placebo-controlled,
multi-center study in the U.S. to determine the effect of Nasulin versus Placebo on blood glucose control
in patient volunteers with moderately controlled Type 2 diabetes mellitus currently treated with basal
insulin and oral antidiabetic medications, excluding secretagogues. During 2009 we also expect to initiate
a Phase 1 Nasulin pharmacokinetic study. Additional studies may be required to advance the Nasulin clinical
program.
We believe, based upon our extensive experience with Testim and Nasulin, that our CPE-215 formulation
technology constitutes a broad platform that has the ability to significantly enhance the permeation of a wide
range of therapeutic molecules. To expand the development and commercialization of products using our CPE-215
drug delivery technology, we are pursuing strategic alliances with potential partners including large
pharmaceutical, specialty pharmaceutical and biotechnology companies.
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