Barrier Therapeutics Raises $32 Million in Series C Financing PRINCETON, N.J., Oct. 27 /PRNewswire/ -- Barrier Therapeutics Inc., an emerging biopharmaceutical company focused on the field of dermatology, today announced that it has raised $32 million in a Series C round of financing. This brings the total amount raised by the Company, since its inception in late 2001, to approximately $78 million. MPM Capital, a new investor, led the Series C financing from both its BioVenture Fund III and BioEquities Funds. All of Barrier's previous institutional investors also participated in this round; they include: Johnson and Johnson Development Corporation, TL Ventures, JP Morgan Partners, Perseus-Soros BioPharmaceutical Fund (PSBF), Baker/Tisch Investment Partners and KBC of Belgium. "We are fortunate to have the support of MPM, as well as that of our existing investor group, and we are honored to be aligned with such an impressive group," said Geert Cauwenbergh, Ph.D., Chairman and Chief Executive Officer of Barrier. "We are pleased to add this investment in Barrier to our current portfolio of healthcare investments," noted Nick Simon, General Partner, MPM Capital. "We look forward to working with Barrier as they continue to develop their product pipeline in dermatology." Proceeds from the financing will be used to support the Company's clinical trial programs, in-licensing strategy and domestic and international marketing initiatives. In April of 2003, the Company launched Phase III clinical trials for two of its products: a Phase III clinical trial for Barrier's lead product, Zimycan(TM), for use in Candida-associated diaper dermatitis is being conducted at sites throughout the United States and Latin America; and the Phase III trials for Seboride(TM), for the treatment of seborrheic dermatitis, were conducted in both Europe and the United States. In June of 2003, Barrier received orphan drug designation from the Commission of the European Community for Liarozole, a drug for the treatment of congenital ichthyosis. With a licensing agreement with The Research Institute for Medicine and Chemistry in July of 2003, Barrier secured the exclusive global license to Ecalcidene, a novel Vitamin D3 derivative, in numerous therapeutic areas beyond, and including, dermatology. About Barrier Therapeutics, Inc. Barrier Therapeutics, Inc. is a biopharmaceutical company focused on the development of novel dermatological therapeutics. The privately held company was formed to develop and market dermatological products based on intellectual property initially in-licensed from Janssen Pharmaceutica Products, L.P., Johnson & Johnson Consumer Companies, Inc., and Ortho-McNeil Pharmaceutical, Inc. (all affiliates of Johnson & Johnson). Barrier's current clinical pipeline includes four products in, or entering, Phase III clinical trials to treat fungal infections, Candida-associated diaper dermatitis, seborrheic dermatitis, and congenital ichthyosis. The earlier-stage clinical products -- for psoriasis, acne, skin inflammation, fungal infections, allergies, and wound healing -- are complemented by a broad portfolio of pre-clinical candidates. In September of 2003, the Company established new headquarters at 600 College Road East in Princeton, New Jersey. The Company has a wholly- owned subsidiary in Geel, Belgium. Web site: http://www.barriertherapeutics.com/ DATASOURCE: Barrier Therapeutics, Inc. CONTACT: Anne M. VanLent, +1-609-945-1202, or Cheryl McLaughlin, +1-609-945-1256, both of Barrier Therapeutics, Inc.; Rhonda Chiger (Investors), +1-917-322-2569, or Pete Holmberg (Media), +1-917-322-2164, both of Rx Communications Group, LLC for Barrier Therapeutics, Inc. Web site: http://www.barriertherapeutics.com/

Copyright