Ms. Johnson Received Athena Pinnacle Award and
Will Receive MOXIE Award
Cerulean Pharma Inc. (NASDAQ:CERU), and Daré Bioscience, Inc., a
privately-held, clinical-stage healthcare company advancing
products for women’s reproductive health, today announced that
Sabrina Martucci Johnson, Daré Founder and CEO, is receiving two
awards.
Ms. Johnson was honored by Athena, a San Diego-based business
organization championing women executives and rising managers in
science, technology, engineering and mathematics. “Recipients of
the 2017 Pinnacle Awards represent the best and brightest in our
region. We were excited to honor them amidst a crowd of more than
600 leaders in science, technology and business,” said Cheryl
Goodman, Executive Director of Athena.
Ms. Johnson also will be receiving an award on May 21, 2017,
from MOXIE Theatre, a Southern California theatre dedicated to
producing diverse and honest images of women using the art of
theatre. The MOXIE award recognizes women in San Diego with grit
and determination and who are having a positive impact in their
community.
Daré is a healthcare company committed to the development and
commercialization of innovative products in women’s reproductive
health. Its product candidate, Ovaprene®, is a clinical stage,
non-hormonal contraceptive ring for monthly use. Since the approval
of the birth control pill by the FDA in 1960, most innovation has
focused on hormones. If approved, Ovaprene would address a
significant unmet need because it is a non-hormonal monthly option.
The only contraceptive ring on the market is a hormonal
contraceptive ring, NuvaRing®, with 2016 sales of $777 million.
Contraception is estimated to be a $19 billion global market.
On March 20, 2017, Cerulean and Daré announced that, together
with the equityholders of Daré, they entered into a definitive
stock purchase agreement under which the equityholders of Daré will
become the majority owners of Cerulean. The transaction would
result in a NASDAQ-listed company with a focus on the development
and commercialization of products for women’s reproductive health.
Upon the close of the proposed transaction, the board of directors
of the combined company will consist of William H. Rastetter, Susan
L. Kelley, Roger L. Hawley, Robin J. Steele, and Sabrina Martucci
Johnson.
In connection with the proposed Daré transaction, Cerulean
intends to file relevant materials with the Securities and Exchange
Commission (the “SEC”), including a definitive proxy statement on
Schedule 14A. Cerulean filed a preliminary proxy statement on April
17, 2017, that may be obtained free of charge at the SEC’s website
at www.sec.gov. The information contained in the preliminary proxy
statement is not complete and may be changed. Cerulean intends to
file a definitive Proxy Statement that will be sent or given to the
stockholders of Cerulean and will contain important information
about the proposed transactions and related matters, and will
include details pertaining to the voting procedures.
About Daré Bioscience
Daré Bioscience is a healthcare company committed to the
development and commercialization of innovative products in women’s
reproductive health. Daré believes there is a significant unmet
need in the United States, in other developed countries, and in
developing countries, for innovative product candidates that expand
options, improve outcomes and are easy to use. Product
development in women’s reproductive health is fragmented
creating a potential opportunity for Daré. Daré’s goal is to
fill the gap by taking products from innovation through
development. The Daré team is well-suited to ensure these products
advance and are one day commercially available. The founders bring
experience in global women’s healthcare as well as success in prior
ventures in funding, achieving regulatory approvals, partnering,
and launching a number of products, including devices, therapeutics
and diagnostics.
For more information on Daré, please visit
www.darebioscience.com
About Cerulean Pharma
Cerulean is a company focused on applying the Dynamic Tumor
Targeting™ Platform to create nanoparticle-drug conjugates (NDCs)
designed to selectively attack tumor cells, reduce toxicity by
sparing the body's normal cells, and enable therapeutic
combinations.
For more information on the company, please visit
www.ceruleanrx.com
Additional Information about the Proposed Transactions and
Where to Find It
In connection with the proposed Daré transaction, Cerulean
intends to file relevant materials with the Securities and Exchange
Commission (the “SEC”), including a definitive proxy statement on
Schedule 14A (the “Proxy Statement”). The Proxy Statement will be
sent or given to the stockholders of Cerulean and will contain
important information about the proposed transactions and related
matters. BEFORE MAKING ANY VOTING DECISION, CERULEAN’S STOCKHOLDERS
ARE URGED TO READ THE PROXY STATEMENT AND THOSE OTHER MATERIALS
(INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) CAREFULLY AND IN
THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTIONS AND THE
PARTIES TO THE PROPOSED TRANSACTIONS. The Proxy Statement and other
relevant materials (when they become available), and any other
documents filed by Cerulean with the SEC, may be obtained free of
charge at the SEC’s website at www.sec.gov. In addition, security
holders will be able to obtain free copies of the proxy statement
by directing a written request to: Cerulean Pharma Inc., 35
Gatehouse Drive, Waltham, MA, Attention: Corporate Secretary.
Participants in the Solicitation
Cerulean, Daré, and each of their respective directors and
executive officers may be deemed to be participants in the
solicitation of proxies from the stockholders of Cerulean in
connection with the proposed Daré transaction. Cerulean, Novartis,
and each of their respective directors and executive officers may
be deemed to be participants in the solicitation of proxies from
the stockholders of Cerulean in connection with the proposed
Novartis transaction. Information regarding the interests of these
directors and executive officers in the proposed transactions
described herein will be included in the Proxy Statement described
above. Additional information regarding the directors and
executive officers of Cerulean is included in proxy statement for
its 2016 Annual Meeting, which was filed with the SEC on April 28,
2016, and is supplemented by other public filings made, and to be
made, with the SEC by Cerulean.
Cautionary Note on Forward Looking Statements
This press release contains “forward-looking statements”
regarding matters that are not historical facts, including
statements relating to the expected timing and consummation of the
transaction between Cerulean, Daré, and the stockholders of Daré,
approval of the Daré transaction by Cerulean’s stockholders, the
ability of the parties to satisfy other closing conditions, Daré’s
expectations regarding the timing and availability of results from
its clinical trials, the timing of commencement of manufacturing
its products, and the safety and effectiveness of its products.
Because such statements are subject to risks and uncertainties,
actual results may differ materially from those expressed or
implied by such forward-looking statements. Words such as
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"hypothesize," "intend," "may," "plan," "potential," "predict,"
"project," "should," "target," "would," and similar expressions,
constitute forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those indicated by such forward-looking
statements as a result of various important factors, including:
whether Cerulean’s cash resources will be sufficient to fund the
operations of Daré it will undertake following the closing; the
uncertainties inherent in the initiation and completion of clinical
trials; availability and timing of data from ongoing and future
clinical trials and the results of such trials; whether preliminary
results from a clinical trial will be predictive of the final
results of that trial or whether results of early clinical trials
will be indicative of the results of later clinical trials;
expectations for regulatory approvals; and other factors discussed
in the "Risk Factors" section of Cerulean’s Annual Report on Form
10-K filed with the SEC on March 31, 2017, and in other filings
that Cerulean makes with the SEC. In addition, any forward-looking
statements included in this press release represent our views only
as of the date of this release and should not be relied upon as
representing our views as of any subsequent date. Cerulean
specifically disclaims any obligation to update any forward-looking
statements included in this press release.
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version on businesswire.com: http://www.businesswire.com/news/home/20170508005309/en/
CeruleanChris Guiffre, 781-209-6450orDaréSabrina Martucci
Johnson, 858-769-9145
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