Market Overview

Cerulean and Daré Announce Awards for Daré CEO

Share:





Cerulean Pharma Inc. (NASDAQ:CERU), and Daré Bioscience, Inc., a
privately-held, clinical-stage healthcare company advancing products for
women's reproductive health, today announced that Sabrina Martucci
Johnson, Daré Founder and CEO, is receiving two awards.

Ms. Johnson was honored by Athena,
a San Diego-based business organization championing women executives and
rising managers in science, technology, engineering and mathematics.
"Recipients of the 2017 Pinnacle Awards represent the best and brightest
in our region. We were excited to honor them amidst a crowd of more than
600 leaders in science, technology and business," said Cheryl Goodman,
Executive Director of Athena.

Ms. Johnson also will be receiving an award on May 21, 2017, from MOXIE
Theatre, a Southern California theatre dedicated to producing diverse
and honest images of women using the art of theatre. The MOXIE award
recognizes women in San Diego with grit and determination and who are
having a positive impact in their community.

Daré is a healthcare company committed to the development and
commercialization of innovative products in women's reproductive health.
Its product candidate, Ovaprene®, is a clinical stage, non-hormonal
contraceptive ring for monthly use. Since the approval of the birth
control pill by the FDA in 1960, most innovation has focused on
hormones. If approved, Ovaprene would address a significant unmet need
because it is a non-hormonal monthly option. The only contraceptive ring
on the market is a hormonal contraceptive ring, NuvaRing®, with 2016
sales of $777 million. Contraception is estimated to be a $19 billion
global market.

On March 20, 2017, Cerulean and Daré announced that, together
with the equityholders of Daré, they entered into a definitive stock
purchase agreement under which the equityholders of Daré will become the
majority owners of Cerulean. The transaction would result in a
NASDAQ-listed company with a focus on the development and
commercialization of products for women's reproductive health. Upon the
close of the proposed transaction, the board of directors of the
combined company will consist of William H. Rastetter, Susan L. Kelley,
Roger L. Hawley, Robin J. Steele, and Sabrina Martucci Johnson.

In connection with the proposed Daré transaction, Cerulean intends to
file relevant materials with the Securities and Exchange Commission (the
"SEC"), including a definitive proxy statement on Schedule 14A. Cerulean
filed a preliminary proxy statement on April 17, 2017, that may be
obtained free of charge at the SEC's website at www.sec.gov.
The information contained in the preliminary proxy statement is not
complete and may be changed. Cerulean intends to file a definitive Proxy
Statement that will be sent or given to the stockholders of Cerulean and
will contain important information about the proposed transactions and
related matters, and will include details pertaining to the voting
procedures.

About Daré Bioscience

Daré Bioscience is a healthcare company committed to the development and
commercialization of innovative products in women's reproductive health.
Daré believes there is a significant unmet need in the United States, in
other developed countries, and in developing countries, for innovative
product candidates that expand options, improve outcomes and are easy to
use. Product development in women's reproductive health is fragmented
creating a potential opportunity for Daré. Daré's goal is to fill the
gap by taking products from innovation through development. The Daré
team is well-suited to ensure these products advance and are one day
commercially available. The founders bring experience in global women's
healthcare as well as success in prior ventures in funding, achieving
regulatory approvals, partnering, and launching a number of products,
including devices, therapeutics and diagnostics.

For more information on Daré, please visit www.darebioscience.com

About Cerulean Pharma

Cerulean is a company focused on applying the Dynamic Tumor Targeting™
Platform to create nanoparticle-drug conjugates (NDCs) designed to
selectively attack tumor cells, reduce toxicity by sparing the body's
normal cells, and enable therapeutic combinations.

For more information on the company, please visit www.ceruleanrx.com

Additional Information about the Proposed Transactions and Where to
Find It

In connection with the proposed Daré transaction, Cerulean intends to
file relevant materials with the Securities and Exchange Commission (the
"SEC"), including a definitive proxy statement on Schedule 14A (the
"Proxy Statement"). The Proxy Statement will be sent or given to the
stockholders of Cerulean and will contain important information about
the proposed transactions and related matters. BEFORE MAKING ANY VOTING
DECISION, CERULEAN'S STOCKHOLDERS ARE URGED TO READ THE PROXY STATEMENT
AND THOSE OTHER MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS
THERETO) CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
TRANSACTIONS AND THE PARTIES TO THE PROPOSED TRANSACTIONS. The Proxy
Statement and other relevant materials (when they become available), and
any other documents filed by Cerulean with the SEC, may be obtained free
of charge at the SEC's website at www.sec.gov.
In addition, security holders will be able to obtain free copies of the
proxy statement by directing a written request to: Cerulean Pharma Inc.,
35 Gatehouse Drive, Waltham, MA, Attention: Corporate Secretary.

Participants in the Solicitation

Cerulean, Daré, and each of their respective directors and executive
officers may be deemed to be participants in the solicitation of proxies
from the stockholders of Cerulean in connection with the proposed Daré
transaction. Cerulean, Novartis, and each of their respective directors
and executive officers may be deemed to be participants in the
solicitation of proxies from the stockholders of Cerulean in connection
with the proposed Novartis transaction. Information regarding the
interests of these directors and executive officers in the proposed
transactions described herein will be included in the Proxy Statement
described above. Additional information regarding the
directors and executive officers of Cerulean is included in proxy
statement for its 2016 Annual Meeting, which was filed with the SEC on
April 28, 2016, and is supplemented by other public filings made, and to
be made, with the SEC by Cerulean.

Cautionary Note on Forward Looking Statements

This press release contains "forward-looking statements" regarding
matters that are not historical facts, including statements relating to
the expected timing and consummation of the transaction between
Cerulean, Daré, and the stockholders of Daré, approval of the Daré
transaction by Cerulean's stockholders, the ability of the parties to
satisfy other closing conditions, Daré's expectations regarding the
timing and availability of results from its clinical trials, the timing
of commencement of manufacturing its products, and the safety and
effectiveness of its products. Because such statements are subject to
risks and uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Words such as
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"hypothesize," "intend," "may," "plan," "potential," "predict,"
"project," "should," "target," "would," and similar expressions,
constitute forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by such forward-looking statements as a
result of various important factors, including: whether Cerulean's cash
resources will be sufficient to fund the operations of Daré it will
undertake following the closing; the uncertainties inherent in the
initiation and completion of clinical trials; availability and timing of
data from ongoing and future clinical trials and the results of such
trials; whether preliminary results from a clinical trial will be
predictive of the final results of that trial or whether results of
early clinical trials will be indicative of the results of later
clinical trials; expectations for regulatory approvals; and other
factors discussed in the "Risk Factors" section of Cerulean's Annual
Report on Form 10-K filed with the SEC on March 31, 2017, and in other
filings that Cerulean makes with the SEC. In addition, any
forward-looking statements included in this press release represent our
views only as of the date of this release and should not be relied upon
as representing our views as of any subsequent date. Cerulean
specifically disclaims any obligation to update any forward-looking
statements included in this press release.

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com