CorMedix (AMEX: CRMD) - Research report issued by Crystal Research Associates

Crystal Research Associates, LLC announced today that it has issued an Executive Informational Overview® (EIO®) on CorMedix Inc. (CRMD-NYSE Amex).

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CorMedix Inc. is focused on treating cardiorenal diseases, which entails addressing kidney dysfunction and its cardiovascular complications. CorMedix's lead product candidates are Neutrolin® and deferiprone. Neutrolin® is a catheter lock solution for chronic central venous catheters (CVCs), which are a type of catheter commonly used by hemodialysis patients, among other individuals. Neutrolin®, which has antimicrobial, antifungal, and anticoagulant properties, has been shown to reduce the likelihood of contracting a catheter-related bloodstream infection (CRBSI) by approximately 90% in hemodialysis patients. To CorMedix's knowledge, there is no approved combined antimicrobial and anticoagulant catheter-locking solution for the prevention of CRBSI in the U.S. today. The Company is working to submit an Investigational Device Exemption (IDE) by the end of 2010, which would enable the start of clinical trials for Neutrolin® in early 2011.

CorMedix is also developing proprietary formulations of deferiprone, a generic pharmaceutical that is commercially available in over 50 countries for removing iron from the body. However, it is not yet marketed in the U.S. CorMedix believes that it possesses novel formulations of immediate and extended-release deferiprone that are not available elsewhere. The FDA has approved Investigational New Drug (IND) applications for deferiprone to prevent contrast-induced nephropathy (CIN) and to treat chronic kidney disease (CKD). The Company commenced a Phase II biomarker proof-of-concept study of deferiprone in June 2010.

In March 2010, CorMedix completed an initial public offering (IPO) on the NYSE Amex for approximately $10.4 million in net proceeds, which the Company primarily intends to use in further clinical development of Neutrolin® and deferiprone.