CorMedix awarded $488,959 QTDP program grant to develop Neutrolin and Deferiprone clinical programs

CorMedix Inc. ("CorMedix") (NYSE Amex: CRMD), a pharmaceutical company focused on developing and commercializing therapeutic products for the prevention and treatment of cardiorenal disease, today announced it has been awarded two grants totaling $488,959 under the qualifying therapeutic discovery project ("QTDP") program established under Section 48D of the Internal Revenue Code. These grants were awarded based on applications CorMedix submitted for both its Neutrolin® and Deferiprone programs.

"We are very pleased to receive these grants, a source of non-dilutive funding, which will supplement our current cash position to continue to advance the development of our clinical programs in both Neutrolin® and Deferiprone," stated Brian Lenz, CorMedix's Chief Financial Officer.