SOURCE: Agile Therapeutics

August 12, 2008 08:01 ET

Agile Therapeutics Appoints Industry Expert, Al Altomari, as Chairman of Its Board of Directors

Brings Over 25 Years of Women's Health Commercialization Experience

Company to Capitalize on Major Unmet Contraceptive Need

PRINCETON, NJ--(Marketwire - August 12, 2008) - Agile Therapeutics, Inc., today announced the appointment of industry expert, Al Altomari, as Chairman of its Board of Directors. Mr. Altomari brings to Agile more than 25 years of executive leadership experience in the pharmaceutical industry, with more than 18 of those years focused on the development and successful commercialization of specialty pharmaceutical products, in particular in women's health and dermatology.

Thomas Rossi, Ph.D., Agile's President and Chief Executive Officer, commented on Mr. Altomari's appointment, "I am delighted to welcome Al as Chairman of the Board. As a former independent Director since 2003, he is a trusted advisor. Al understands our business and is well acquainted with Agile's management and the rest of the Board."

Dr. Rossi continued, "Recently, we completed Phase 2b clinical development of our innovative, low-dose contraceptive patch. According to our most recent market research study of 1,000 women, more than 30 percent of women are not satisfied with their current contraceptive methods, and more than 50 percent of women would talk to their doctor about Agile's low-dose, once-weekly contraceptive patch. If approved, Agile's patch is expected to fill a sizeable need in the $6 billion global ($2.5 billion U.S.) hormonal contraceptive market. Al brings a tremendous amount of product commercialization and business development experience, in particular in the contraceptive market, and will play a key role in helping us build upon our recent successes."

Mr. Altomari currently serves as Chief Executive Officer of Barrier Therapeutics (NASDAQ: BTRX). In June 2008, Barrier and Stiefel Laboratories, Inc., signed a definitive merger agreement which valued Barrier at $148 million, a 73 percent premium to Barrier's average closing price for 30 days prior to the announcement date. He initially joined Barrier as Chief Commercial Officer in August 2003 and later served as the Company's Chief Operating Officer. During his tenure at Barrier, Mr. Altomari spearheaded the development of the Company's commercial infrastructure, commercialization of Barrier's product portfolio, as well as management of all worldwide business development initiatives.

Prior to joining Barrier, Mr. Altomari served in numerous executive roles within Johnson & Johnson, where he successfully led the integration of Ortho Dermatological and Neutrogena Professional. Mr. Altomari also served as Vice President of Ortho-McNeil Pharmaceutical's Women's Health Care Franchise, where he introduced several life cycle and new product development initiatives, including the launch of Ortho EVRA®, the only contraceptive patch on the market today.

Mr. Altomari currently serves as a member of the Board of Directors of Auxilium Pharmaceuticals Inc. (NASDAQ: AUXL). In July 2007, he was recognized by PharmaVOICE magazine as one of the Top 100 Most Inspirational and Influential Leaders in the Life Sciences Industry. Mr. Altomari earned a M.B.A. from Rider University in Lawrenceville, New Jersey. He completed his undergraduate studies at Drexel University in Philadelphia, Pennsylvania, earning a B.S. with a dual major in finance and accounting.

Mr. Altomari currently serves on the Le Bow College (Drexel's Business School) advisory board.

About the Market Research

According to new market research conducted by Agile Therapeutics in 2008 with approximately 1,000 women of reproductive age, more than 30 percent of women are not satisfied with their current contraceptive methods. The vast majority of these women found Agile's low-dose contraceptive patch appealing and over 50 percent would talk with their doctors about using it. Agile's low-dose contraceptive patch offers women a convenient, once-weekly form of birth control that many women prefer over having to remember to take the pill daily.

About Agile's Low-Dose Contraceptive Patch

Agile's low-dose contraceptive patch is a unique, patented patch that was designed for flexibility, to carry moisture away from the skin and to deliver significantly less estrogen than the only marketed patch available today, Ortho EVRA®.

About Agile Therapeutics, Inc.

Agile Therapeutics is a privately held, specialty pharmaceutical company focused on the development of innovative women's healthcare products. The women's healthcare market offers unique opportunities to a company with proven expertise in clinical development, transdermal drug delivery and commercialization experience.

Agile's current venture investors include TL Ventures, Novitas Capital (formerly PA Early Stage Partners), ProQuest Investments, and The Hillman Company. The company has raised a total of $35 million in venture funding to date. For more information please visit www.agiletherapeutics.com.

[Editors Note: Photo available upon request]