CPEX Pharmaceuticals, Inc., a specialty pharmaceutical company, engages in the research, development, licensing, and commercialization of pharmaceutical products utilizing its validated drug delivery platform technology. Its drug delivery technology, CPE-215 technology, enhances permeation and absorption of pharmaceutical molecules across biological membranes, such as the skin, nasal mucosa, and eye. The companys product Testim, a gel for testosterone replacement therapy, is licensed to Auxilium Pharmaceuticals, Inc. The company also holds U.S. and international patents, and other proprietary rights to technology that facilitates the absorption of drugs. Its product candidate includes Nasulintm, which is in Phase II clinical trials, an intranasal spray formulation of CPE-215 with insulin to treat hyperglycemia in patients suffering from Type 1 and Type 2 diabetes. The company was incorporated in 2007 and is headquartered in Exeter, New Hampshire.