CPEX Pharmaceuticals, Inc., a specialty pharmaceutical company, focuses on the development, licensing, and commercialization of pharmaceutical products utilizing its validated drug delivery 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 company's principal product Testim, a gel for testosterone replacement therapy is licensed to Auxilium Pharmaceuticals, Inc. that markets the product in the United States, Europe, and other countries. It also holds U.S. and international patents, and other proprietary rights to technologies that facilitate the absorption of drugs. In addition, CPEX Pharmaceuticals, Inc. is developing an intranasal insulin product candidate, Nasulin, which is in Phase II clinical trials. The company was incorporated in 2007 and is headquartered in Exeter, New Hampshire.