Virginia
Life Science Investments, LLC and other investors have completed a
recapitalization and management restructuring of Cupron,
Inc., a Delaware corporation established in 2001, with principal
offices in Modi’in, Israel. The transaction provides significant new
capital to support the continued growth and development of Cupron Inc.;
as well as the formation and initial capitalization of an independent
new entity, Cupron
Medical Inc., a Delaware corporation with principal offices in
Richmond, VA.
The transaction also resulted in the formation of a new executive
leadership team. Key members of this new team include Mr.
Paul Rocheleau, a seasoned executive in technology development,
global materials business leadership, and venture management, who has
been appointed to the dual roles of Chairman of the Board for Cupron
Inc. and Chief Executive Officer of Cupron Medical Inc. Mr. Danny
Lustiger, an experienced executive with extensive operational and
financial management experience with technology companies, was appointed
as President and Chief Executive Officer of Cupron Inc. And Mr. Ronald
Dziedziula, a 30 year marketing, sales, and operational executive of the
medical device industry, who joined Cupron Medical Inc. as Vice
President and General Manager.
Cupron Inc. has developed a robust, patented antimicrobial
technology platform that uses a natural, Environmental Protection Agency
(EPA) registered form of Copper
(cuprous oxide), providing an effective broad spectrum antimicrobial
with many medical and consumer applications. Cupron
technology has also been clinically demonstrated to have cosmetic
benefits such as a reduction in the appearance of wrinkles and related
skin conditions. In addition, Cupron technology has shown early clinical
evidence of having a potential positive effect on wound healing and in
treating infections. Cupron is engaging in a long term program of
testing and clinical studies to provide data for submission to the EPA
and the Food and Drug Administration (FDA) in order to support expanded
product claims.
Cupron’s proprietary technology permanently integrates cuprous
oxide particles in textile fibers, non-woven fabrics, paper, latex
and other polymeric products. The technology can also be utilized in
cosmetics, creams and other suspensions. As a result, the cuprous oxide
technology is very long lasting and can be applied to a broad range of
consumer, industrial, military, and healthcare applications. In addition
to exhibiting the antimicrobial efficacy and therapeutic benefits,
cuprous oxide has been demonstrated to be 1) non-toxic to humans, 2)
non-sensitizing and non-irritating to skin, and 3) environmentally
friendly.
“The introduction of Cupron technology into the global consumer and
healthcare markets is a major focus of the expanded management team; and
led to the formation of Cupron Medical Inc.,” stated Paul Rocheleau.
“Over the past five years Cupron has refined the technology’s
performance and clinically demonstrated efficacy in a wide range of
healthcare applications,” said Paul. “We now have the knowledge,
financing and the team to commercialize our technology into a wide range
of healthcare products. This will provide important new tools for
caregivers to utilize against both the growing problem of Hospital
Acquired Infections and the care of patients afflicted with certain
disease states such as diabetes or medical issues such as chronic
wounds.” An estimated 6 million Hospital Acquired Infections occur each
year across the United States, Europe and Japan. In the US alone, there
are nearly 100,000 deaths annually, with treatment costs estimated in
the tens of billions of dollars.
The proceeds from the transaction are being used to expand new product
development and the clinical trial program, gain additional regulatory
approvals, and significantly strengthen and expand the global management
and sales teams to support a higher level of commercialization activity.
Both Cupron Inc. and Cupron Medical Inc. are in the process of launching
a number of new products, both independently and in conjunction with
strategic partners worldwide.
About Virginia Life Sciences Investments, LLC
Virginia Life Sciences Investments, LLC (“VLSI”) is a commercialization
and investment company designed to support the commercialization of new
life science technologies. VLSI has the managerial support and capital
needed to accelerate the growth and development of highly qualified life
science companies that have the potential for rapid growth in North
America and other markets.
Forward-Looking Statements
This press release is intended for investors who understand the
prospective nature of forward looking statements such as are included in
this press release, including management’s assessment of the Cupron
technology and our ability to execute on our business strategies for the
technology. All forward-looking statements are based on our current
expectations and are subject to a number of uncertainties that could
result in unexpected outcomes and could limit our overall success. While
we undertake no duty to update this information, all information set
forth in this release reflects management’s expectations as of the date
of this release.
Cupron Medical Inc.
Mr. John Cudzik, 757-561-0043
jcudzik@cupronmedical.com
800
E. Leigh Street
Richmond, VA 23219
or
Cupron Inc.
Ms.
Dafna Gabbay, +972-54-6334323
Dafna@cupron.com
Hamayan
4
Ligad 2 Building
Mod'in, Israel