CorMedix (AMEX:CRMD) - Added To Russell Microcap® Index and Doses First Patient in Phase II Clinical Trial of CRMD-001

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CorMedix (CRMD) has been added to the broad-market Russell Microcap® Index when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes on June 25, 2010.

Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.

"We are delighted that CorMedix has been included in the Russell Microcap Index, as it adds greater visibility for CorMedix and could lead to a broader stockholder base,” stated Brian Lenz, CorMedix’s CFO.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in assets currently are benchmarked to them. Annual reconstitution of Russell Indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000® Index and Russell Microcap.

Additionally, CorMedix announced dosing of the first patient with CRMD-001 (a proprietary formulation of deferiprone) in a randomized, double-blind, placebo-controlled clinical trial. This Phase II proof-of-concept study is for the prevention of contrast-induced acute kidney injury in approximately 60 high-risk patients with chronic kidney disease (CKD) and additional risk factors, who are undergoing coronary angiography with the intent of adjunctive percutaneous coronary intervention (PCI). This study is currently being conducted at two study centers in the United States: Providence Hospital and Medical Center in Southfield, MI and Northern Michigan Regional Hospital in Petoskey, MI.