Board/Management Information • May 29, 2012
Board/Management Information
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Corporate | 29 May 2012 07:00
Cytos Biotechnology Ltd Nominates Dr. Christian Itin, former President and CEO of Micromet Inc., as a Non-executive Director
Cytos Biotechnology AG / Key word(s): Change of Personnel
29.05.2012 / 07:00
Cytos Biotechnology Ltd Nominates Dr. Christian Itin, former President and CEO of Micromet Inc., as a Non-executive Director
Schlieren (Zurich), Switzerland, May 29, 2012 – Cytos Biotechnology Ltd (‘Cytos’ or ‘the Company’), a Swiss biotech company developing a new class of biopharmaceutical products called Immunodrugs(TM), announced today the nomination of Dr. Christian Itin to its Board as a Non-executive Director and that the Board of Directors will propose to the Company’s shareholders the election of Dr. Itin as member of the Board at the Company’s next general meeting.
Dr. Itin (age 48 yrs) is the former President and Chief Executive Officer of Micromet Inc., a formerly Nasdaq-listed biopharmaceutical company, with headquarters in Rockville, MD and a R&D center in Munich, Germany, which was acquired in March 2012 by Amgen, Inc. for USD 1.16 billion in cash. He spent 13 years with Micromet in a number of senior management roles, becoming CEO in 2004. Prior to joining Micromet in 1999, Dr. Itin co-founded Zyomyx, Inc., a protein chip company based in Hayward, CA, USA.
Dr. Itin received a diploma in biology and a Ph.D. in cell biology from the University of Basel. In addition, he performed post-doctoral research at the Biocenter of Basel University and at the Stanford University School of Medicine.
Thomas Hecht, Chairman of Cytos, said: ‘Christian is an experienced biotech entrepreneur with significant expertise and a strong track record in areas such as R&D strategy, corporate, business and product development. These attributes are extremely important to Cytos as Cytos is looking to build significant value from its Immunodrug(TM) platform following its recent CHF 33.5 million (USD 36.2 million) financing round. We are looking forward to Christian’s contributions to Cytos’ growth and future success.’
Christian Itin, commented: ‘Over recent months, Cytos has established a strong foundation on which to build an exciting company based on CYT003, a novel potentially disease-modifying approach to asthma and also on its unique Immunodrug(TM) platform. I believe the Company has a promising future and I am very pleased to have the opportunity to support its growth and development.’
For further information please contact:
Cytos Biotechnology Ltd
Harry Welten
Chief Financial Officer
Tel.: +41 44 733 46 46
e-Mail: [email protected]
Website: www.cytos.com
About Cytos Biotechnology Ltd
Cytos Biotechnology Ltd is a Swiss public biotechnology company that specializes in the development and commercialization of a new class of biopharmaceutical products – the Immunodrugs(TM). Immunodrugs(TM) are intended for use in the treatment and prevention of common chronic diseases, which afflict millions of people worldwide. Immunodrugs(TM) are designed to instruct the patient’s immune system to produce the desired therapeutic antibody or T cell responses that modulate chronic disease processes. Cytos’ Immunodrug(TM) candidates are being developed both in-house and together with Novartis, Pfizer and Pfizer Animal Health. Founded in 1995 as a spinoff from the Swiss Federal Institute of Technology (ETH) in Zurich, the Company is located in Schlieren (Zurich). Cytos Biotechnology Ltd is listed according to the Main Standard on the SIX Swiss Exchange Ltd under the symbol CYTN.
This foregoing press release may contain forward-looking statements that include words or phrases such as ‘are intended for’, ‘are designed to’, or other similar expressions. These forward-looking statements are subject to a variety of significant uncertainties, including scientific, business, economic and financial factors, and therefore actual results may differ significantly from those presented. There can be no assurance that any further therapeutic entities will enter clinical trials, that clinical trial results will be predictive for future results, that therapeutic entities will be the subject of filings for regulatory approval, that any drug candidates will receive marketing approval from the U.S. Food and Drug Administration or equivalent regulatory authorities, or that drugs will be marketed successfully. Against the background of these uncertainties readers should not rely on forward-looking statements. The Company assumes no responsibility to update forward-looking statements or adapt them to future events or developments.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER, OR THE SOLICITATION OF AN OFFER TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES TO ANY PERSON IN AUSTRALIA, CANADA, JAPAN, OR THE UNITED STATES OR IN ANY OTHER JURISDICTION, NOR DOES IT CONSTITUTE A PROSPECTUS WITHIN THE MEANING OF ARTICLE 652A OR 1156 OF THE SWISS CODE OF OBLIGATIONS OR A LISTING PROSPECTUS PURSUANT TO THE LISTING RULES OF THE SIX SWISS EXCHANGE LTD. ANY DECISION TO PURCHASE ANY SECURITIES REFERRED TO HEREIN SHOULD BE SOLELY BASED ON THE RELEVANT PROSPECTUS. IN ADDITION, THE OFFER AND SALE OF THE SECURITIES REFERRED TO HEREIN HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE ‘SECURITIES ACT’) OR UNDER THE APPLICABLE SECURITIES LAWS OF AUSTRALIA, CANADA OR JAPAN. THE SECURITIES REFERRED TO HEREIN MAY NOT BE OFFERED, SOLD OR DELIVERED WITHIN THE UNITED STATES ABSENT REGISTRATION UNDER THE SECURITIES ACT OR AN APPLICABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. SUBJECT TO CERTAIN EXCEPTIONS, THE SECURITIES REFERRED TO HEREIN MAY NOT BE OFFERED OR SOLD IN AUSTRALIA, CANADA OR JAPAN OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY NATIONAL, RESIDENT OR CITIZEN OF AUSTRALIA, CANADA OR JAPAN. THERE WILL BE NO PUBLIC OFFER OF THE SECURITIES IN THE UNITED STATES.
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IN ADDITION, IF AND TO THE EXTENT THAT THIS PRESS RELEASE IS COMMUNICATED IN, OR THE OFFER OF SECURITIES TO WHICH IT RELATES IS MADE IN, ANY EEA MEMBER STATE THAT HAS IMPLEMENTED DIRECTIVE 2003/71/EC (TOGETHER WITH ANY APPLICABLE IMPLEMENTING MEASURES IN ANY MEMBER STATE, THE ‘PROSPECTUS DIRECTIVE’), THIS PRESS RELEASE AND THE OFFERING OF ANY SECURITIES DESCRIBED HEREIN ARE ONLY ADDRESSED TO AND DIRECTED AT PERSONS IN THAT MEMBER STATE WHO ARE QUALIFIED INVESTORS WITHIN THE MEANING OF THE PROSPECTUS DIRECTIVE (OR WHO ARE OTHER PERSONS TO WHOM THE OFFER MAY LAWFULLY BE ADDRESSED) AND MUST NOT BE ACTED ON OR RELIED ON BY OTHER PERSONS IN THAT MEMBER STATE.
End of Corporate News
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| Language: | English |
| Company: | Cytos Biotechnology AG |
| Wagistr. 25 | |
| 8952 Schlieren | |
| Switzerland | |
| Phone: | +41 44 733 4747 |
| Fax: | +41 44 733 4740 |
| E-mail: | [email protected] |
| Internet: | www.cytos.com |
| ISIN: | CH0011025217, CH0029060735 |
| Swiss Security Number: | – |
| Listed: | Freiverkehr in Berlin, München, Stuttgart; Open Market in Frankfurt; SIX |
| End of News | EquityStory AG News-Service |
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| 171734 29.05.2012 |
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