Exhibit 99.1
NEWS RELEASE for May 2, 2005
| Contact: | Allen & Caron Inc | CLOSURE Medical Corp | ||||
| Joe Allen (investors) | Len Hall (media) | Benny Ward, CFO | ||||
| 212-691-8087 | 949-474-4300 | 919-876-7800 | ||||
| joe@allencaron.com | len@allencaron.com |
ANTI-TRUST APPROVAL RECEIVED FOR ACQUISITION
OF CLOSURE MEDICAL CORPORATION BY JOHNSON & JOHNSON
RALEIGH, NC (May 2, 2005) … CLOSURE Medical Corporation (Nasdaq:CLSR) today announced that the U.S. Federal Trade Commission had granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act with respect to the previously-announced acquisition of CLOSURE Medical Corporation by Johnson & Johnson. The proposed transaction is expected to close as promptly as possible after CLOSURE Medical’s special meeting of stockholders, which is scheduled to be held on June 2, 2005, subject to the remaining closing conditions.
About CLOSURE Medical Corporation
CLOSURE Medical Corporation is a global leader in the development and manufacture of innovative biomaterial-based medical devices that fulfill the needs of healthcare practitioners, patients and consumers.
For additional information on CLOSURE Medical visit its website atwww.closuremed.com.
This release includes forward-looking statements that are based on assumptions about many important factors, including the approval by CLOSURE stockholders of the acquisition; general industry and market conditions; general domestic and international economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals and the factors listed in CLOSURE’s most recent 10-K. As such, they involve risks that could cause actual results to differ materially. The Company does not undertake to update its forward-looking statements.
This material is not a substitute for the proxy statement CLOSURE Medical has filed with the Securities and Exchange Commission and is currently mailing to stockholders. Investors are urged to read the proxy statement, including detailed risk factors, because it contains important information. The proxy statement and other documents filed by CLOSURE Medical with the Securities and Exchange Commission are available free of charge at the SEC’s website,www.sec.gov, or by visiting CLOSURE Medical’s website atwww.closuremed.com.
CLOSURE Medical and certain of its directors, executive officers and certain other members of its management may be deemed to be soliciting proxies from CLOSURE Medical’s shareholders in connection with the proposed transaction. Investors may obtain a detailed list of names, affiliations and interests of CLOSURE Medical participants in the solicitation of proxies of CLOSURE Medical’s shareholders by reading the proxy statement.
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