Derma Sciences closes underwritten registered direct offering

Derma Sciences, Inc. (Nasdaq: DSCI) (the "Company"), a medical device and pharmaceutical company focused on advanced wound care, today announced that it closed an underwritten registered direct offering of 2,125,000 shares of common stock at a price of $9.25 per share on April 5, 2012. The Company plans to use the approximately $17.9 million in net proceeds for the continued development of DSC127 and for general corporate purposes.

"The proceeds from this offering will, in part, fund our Phase 3 trials with DSC127 for the treatment of diabetic foot ulcers, which we anticipate beginning in the second half of the year. With the expected closing of our acquisition of MedEfficiency later this month, this financing allows us to maintain a strong balance sheet as we continue down the path to becoming a leading provider of advanced wound care products for a rapidly growing and underserved patient population," said Edward J. Quilty, chief executive officer of Derma Sciences.

Piper Jaffray & Co. acted as the sole underwriter of the offering. ROTH Capital Partners acted as financial advisor.