NEWS RELEASE
FOR IMMEDIATE RELEASE 12/27/04

Contact: Paul Duesterhoft, HEALTHPOINT
Paul.Duesterhoft@healthpoint.com
1-817-900-4031
Julie Saunders, Collegium Pharmaceutical, Inc.
mailto:jsaunders@collegiumpharma.com
1-401-762-2000

HEALTHPOINT® Enters Licensing Agreement with
Collegium for Two Late-Stage Topical Analgesics


        (Fort Worth, TX) --- Paul H. Duesterhoft, Vice President of the Surgical division at HEALTHPOINT®, Ltd., a DFB Pharmaceuticals affiliate, has announced that HEALTHPOINT has entered into an agreement with Collegium Pharmaceutical, Inc. to license and sell two of Collegium’s late-stage patent-pending topical analgesics, one an over the counter product and the other a prescription application.

         These two products are intended to offer clinical advantages over currently available formulations, according to the companies.

         HEALTHPOINT is a leader in the research, development, and marketing of branded pharmaceuticals for surgical, tissue management, and dermatology indications. Collegium is a specialty pharmaceutical product development company. Collegium filed the patent application to cover both products.

         The companies expect launch during the first half of 2005.

         HEALTHPOINT will handle the commercial launch and all subsequent marketing and sales efforts for both products. Collegium remains responsible for pre-launch activities including coordinating manufacturing of launch quantity inventory.

         “This agreement is HEALTHPOINT’s first major step in strategically expanding our Surgical business unit,” said Mr. Duesterhoft, Vice President, HEALTHPOINT Surgical. “We are rapidly evolving our product portfolio of innovative skin asepsis products into a full compendium of unique pharmaceutical solutions for surgical procedures that focus on skin and soft tissue and improve patient outcomes.

         “Working with Collegium will be a good fit,” continued Mr. Duesterhoft. “In seeking a partner, we were impressed with Collegium’s development capabilities, strategies, products, and business model. We believe that this agreement will prove to be a successful one.”

         Collegium develops differentiated, patent protected products with enhanced clinical profiles, takes them through “proof of concept” studies, and then out-licenses the products for commercialization by a strategic marketing partner.

        “We are very pleased to have entered into this agreement. Based upon our research, HEALTHPOINT is an exceptional partner and has an excellent reputation in the market,” said Michael Heffernan, President of Collegium. “We believe HEALTHPOINT will be able to maximize the potential for these two important patent pending products that will offer potential clinical advantages over currently available formulations.”

         About HEALTHPOINT®, Ltd.

         Since its inception in 1992, HEALTHPOINT has established a presence in the research, development, and marketing of branded pharmaceuticals, over the counter drugs, and medical devices for surgical, tissue management, and dermatology indications. An aggressive research and development effort has brought HEALTHPOINT’s unique technologies to the market, setting the pace for its highly trained field sales organization of direct sales representatives. HEALTHPOINT, with over 300 employees, is a DFB Pharmaceuticals, Inc. affiliate company. HEALTHPOINT is based in Fort Worth, Texas. Visit HEALTPOINT’s website at www.healthpoint.com.

         Also headquartered in Fort Worth, DFB Pharmaceuticals, Inc., provides technology-driven products, outsourcing services, and licensing opportunities to the healthcare industry worldwide through its affiliate companies, contract partners, and branded marketing organizations.

         About Collegium Pharmaceutical, Inc.

         Collegium Pharmaceutical, Inc., is a privately held pharmaceutical company focused on the development of proprietary, late stage pharmaceutical products. These products target market opportunities through product enhancements and line extension strategies protected by intellectual property (IP). Collegium applies customized pharmaceutical formulations and IP strategies to drugs that are safe and effective, creating a portfolio of improved pharmaceutical products with potentially less development risk and shorter times to market. Collegium uses its broad expertise in IP development, drug formulation, manufacturing, basic science (chemistry, biology, bioengineering), marketing and clinical trials management to identify and execute product opportunities for itself and its partners. For more information, visit the Company’s website at www.collegiumpharma.com.

###