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Coronado Biosciences Forms Subsidiary to Acquire and License Dermatology Products for Commercialization

BURLINGTON, Mass., Oct. 8, 2014 (GLOBE NEWSWIRE) -- Coronado Biosciences, Inc. (Nasdaq:CNDO) has formed a wholly owned subsidiary, Journey Medical Corporation (JMC), to acquire and license dermatology products. Under the leadership of Claude Maraoui, CEO, JMC will begin building a portfolio of dermatological assets focused on acne, steroid responsive dermatoses, pigmentation and antifungals for promotion to dermatologists and pediatricians.

Dr. Lindsay A. Rosenwald, Coronado's Chairman, President and CEO, said, "Forming a specialized pharmaceutical company that focuses on dermatology will enable Coronado to diversify its business. Claude has a history of success in commercializing brands at top companies in this space, and we feel confident about his ability to bring this record of success to JMC."

Mr. Maraoui said, "Our goal is to aggregate a strong line of dermatologics that benefit patients. We believe that combining the support of Coronado and our expertise in dermatology will accomplish this quickly."

Mr. Maraoui has more than 25 years of experience in commercializing dermatology products. He was formerly Vice President, Dermatology Sales and Executive Director of Aesthetics Sales at Medicis Pharmaceutical Corporation. From 1991 onward, he held a series of positions of increasing responsibility at Medicis, including Associate Director of Dermatology Sales, Group Brand Leader Aesthetics and Senior Product Manager. Valeant Pharmaceuticals International Inc. acquired Medicis in late 2012 for approximately $2.6B. Prior to Medicis, Mr. Maraoui worked as a Professional Sales Representative at Hoffman La Roche Inc. Mr. Maraoui holds a B.A. in business and marketing from Rutgers University.

About Coronado Biosciences

Coronado Biosciences is a biopharmaceutical company dedicated to investing in, acquiring, developing and commercializing novel pharmaceutical products. The Company's portfolio currently includes novel immunotherapy agents for the treatment of autoimmune diseases and cancer. As part of its growth strategy, the company plans to leverage its biopharmaceutical business and drug development expertise to acquire rights to, or to finance, innovative pharmaceutical and biotechnology products, technologies and/or companies, using a variety of approaches including licensing, partnerships, joint ventures, direct financings and/or public and private spin-outs. For more information, visit www.coronadobiosciences.com.

About Journey Medical Corporation

Journey Medical Corporation (JMC), headquartered in Scottsdale, Arizona, will acquire and license dermatology products for commercialization. It is a wholly owned subsidiary of Coronado Biosciences, Inc.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated are: risks related to our growth strategy; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our ability to attract, integrate, and retain key personnel; risks relating to the results of research and development activities; uncertainties relating to preclinical and clinical testing; our dependence on third party suppliers; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.

CONTACT: Lucy Lu, MD, Executive Vice President & Chief Financial Officer Coronado Biosciences, Inc. 781-652-4525; ir@coronadobio.comSource:Coronado Biosciences, Inc.