CUMBERLAND, RI--(BUSINESS WIRE)-October 7, 2003- Collegium Pharmaceutical, Inc., a closely held specialty pharmaceutical company, today announced that it has acquired from Muro Pharmaceutical, Inc., all rights to Tri-Nasal® (triamcinolone acetonide, USP) Nasal Spray, including the product's approved NDA and the right to market the product. This product expands Collegium's current portfolio of respiratory products that includes a patent pending formulation of anti-histamines. Muro received U.S. FDA approval of Tri-Nasal in 2000 as a once-daily, intranasal steroid medication for the treatment of seasonal and perennial allergic rhinitis in adults and children over age 12. The product was the subject of a Class III voluntary recall in 2002 for low potency in certain lots. Collegium expects to apply its expertise in chemistry, formulation, manufacturing and regulatory affairs to implement corrective measures and re-launch the product. A comprehensive development program is currently underway. The Company intends to pursue potential marketing partners for the product.

Tri-Nasal competes in the $2 billion a year U.S. market for nasal inhaled steroids for the treatment of allergic rhinitis. Allergic rhinitis is the most common allergic condition and is increasing in prevalence. Estimates suggest that as many as 20-25% of the U.S. population are currently affected. The most common treatments include inhaled steroids and antihistamines. Competing products in these categories include Flonase® (Glaxo), Nasacort® (Aventis) and Rhinocort Aqua® (AstraZeneca).

"Collegium is pleased to have acquired this important product from Muro. Allergic rhinitis is a large and growing market and inhaled corticosteroids remain a popular and effective treatment approach," said Jessica Wolfe, PhD, Vice President for Administration at Collegium. "We are well positioned to use our internal capabilities to address previous issues with this drug. With the approved NDA, we hope to have the product entering the U.S. as rapidly as possible."

About Collegium Pharmaceutical, Inc.
Collegium Pharmaceutical, Inc., is a privately held pharmaceutical company focused on the development of proprietary, late stage pharmaceutical products for the rapidly growing reformulation market and related areas. The Company's products target market opportunities through product improvement and line extension strategies protected by intellectual property (IP), creating a portfolio of improved pharmaceutical products. 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 across multiple therapeutic areas. For more information, visit the Company's website at www.collegiumpharma.com.

Contacts:
Jessica Wolfe, Ph.D., MPH
Collegium Pharmaceutical
401-762-2000
jwolfe@collegiumpharma.com