Intrepid Therapeutics Announces Formation of New Dermatology Company

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Company to Focus on Licensing and Development of Proprietary Dermatology Drugs

Intrepid Therapeutics, Inc., a specialty pharmaceutical company based in San Diego, announced its company formation, with a focus on the licensing and development of innovative prescription products for dermatological indications.

Intrepid Therapeutics was founded by several executives with extensive experience in the dermatology area. The executives include David F. Hale, Chairman; Diane S. Goostree, President and CEO; Thomas H. Insley, CFO; and Rex Bright, Director. The company will be evaluating a number of dermatological products for potential licensing and development collaborations. The company also announced today an agreement with Cosmo Pharmaceuticals (SIX: COPN) related to the development of CB-03-01 for acne and alopecia.

Diane S. Goostree will serve as President and Chief Executive Officer and a member of the Board of Directors. Since 2009 she has been President and CEO of BioPharma Catalyst Group, a consulting firm advising start-up life sciences companies. From 2006 to 2008, she was President and CEO of Artes Medical, and led the company as it received FDA approval for its PreMarket Approval (PMA) for a dermal filler device. She also led the company’s Initial Public Offering (IPO) in December 2006. Ms. Goostree was the Senior Vice President, Corporate Development and Operations, at SkinMedica from 2002 to 2006. She previously held executive positions at Elan and Dura Pharmaceuticals, and Sanofi Aventis (Marion Merrell Dow).

Thomas H. Insley will serve as Chief Financial Officer of Intrepid Therapeutics. He has served in Chief Financial Officer roles for the past nine years and has 29 years of experience with PricewaterhouseCoopers LLP, the last five years of which he was the Managing Partner of the San Diego Office. Prior to Intrepid Therapeutics, Mr. Insley was Chief Financial Officer and Corporate Secretary of SkinMedica from 2003 to 2010.

David F. Hale will serve as Chairman of the Board of Directors. Since May 2006, Mr. Hale has served as Chairman and Chief Executive Officer of Hale BioPharma Ventures, LLC, which is focused on the formation and development of biotechnology, specialty pharmaceutical, diagnostic and medical device companies. Mr. Hale serves as Chairman of the Board of Directors of SkinMedica, a company focused on developing, manufacturing and selling non-prescription topical skin care products. Mr. Hale is founder and Chairman of a number of life sciences companies.

Rex Bright will serve as a Director of Intrepid. He is President and CEO of Seabright Associates, a consulting firm focused on helping CEO’s build entrepreneurial senior management teams that accelerate operating results. From 2002 to 2009, he served as President and Chief Executive Officer of SkinMedica and continues to serve as a member of SkinMedica’s Board of Directors. Mr. Bright's previous career included 18 years at Johnson & Johnson and six years as President of Allergan's dermatology business.

About Intrepid Therapeutics
Intrepid Therapeutics, Inc. is an independent, privately owned specialty pharmaceutical company based in San Diego, California, involved in licensing and developing innovative prescription drugs for dermatological conditions. More information about Intrepid Therapeutics is available at http://www.intrepidthera.com.

Contact
Diane S. Goostree, President and CEO
Intrepid Therapeutics, Inc.
Phone: (858) 735-0387
http://intrepidthera.com
info(at)intrepidthera(dot)com

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