INNOCUTIS Raises Growth Capital

CHARLESTON, S.C. -- September 26, 2011 ---  INNOCUTIS, a Charleston, S.C.-based specialty pharmaceutical and device company focused on the development and commercialization of therapies and devices for the treatment of dermatological conditions, is pleased to announce the investment by Ballast Point Ventures of $6.5 million in growth capital. INNOCUTIS' current products consist of an established portfolio of branded prescriptions, as well as novel surgical devices. This focus on both medical and surgical dermatology sets INNOCUTIS apart as a company that understands the growing needs of the dermatology specialty.

INNOCUTIS, led by a team of entrepreneurs with extensive backgrounds in the dermatology industry, will use the proceeds from this financing to add to its sales force and selectively pursue new product opportunities.

As a five year member of the  Digital Corridor and the Charleston Life Sciences community, INNOCUTIS is pleased to bring new growth capital to Charleston's growing knowledge economy and looks forward to continued success of the company locally and nationally.

"INNOCUTIS represents one of the many knowledge-based companies who are creating high-paying jobs in Charleston. I am delighted to learn that Ballast Point Ventures has made this substantial investment in one of our Life Sciences companies and opened the door for others to follow," said Digital Corridor Director, Ernest Andrade.

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About INNOCUTIS The INNOCUTIS business platform is built upon an entrepreneurial spirit, innovation, teamwork, speed of execution and superior customer service. In addition to providing high quality products to dermatologists and their patients, INNOCUTIS is aimed at serving the world around us. INNOCUTIS has established the INNOCUTIS Foundation, designed to help those in need in our communities, both in the US and abroad. Our foundation is proud to be in alliance with and in support of Camp Discovery, Compassion International, and MAP International.

**About Ballast Point Ventures ** Ballast Point Ventures (BPV) was founded in 2002 as a joint venture between Raymond James Financial and the principals of South Atlantic Venture Funds. With $200 million in assets under management, BPV provides expansion capital and shareholder liquidity for rapidly growing, privately owned companies in diverse industries, with a particular emphasis on companies located in Florida, the Southeast and Texas. The BPV partners have more than 100 years of combined experience investing in and building high-growth companies in several industries, including health care, communications, business services, technology, financial services and consumer. The Fund seeks to make minority equity investments ranging in size from $3 million to $10 million.

Media Contact

Jon Knowles INNOCUTIS jknowles@innocutis.com

Ernest Andrade Charleston Digital Corridor ernest@charlestondigitalcorridor.com