DGAP-News: Cytos Biotechnology Ltd Nominates Dr. Christian Itin, former President and CEO of Micromet Inc., as a Non-executive Director
(firmenpresse) - EquityStory AG-News: Cytos Biotechnology AG / Key word(s): Change of
Personnel
Cytos Biotechnology Ltd Nominates Dr. Christian Itin, former President
and CEO of Micromet Inc., as a Non-executive Director
29.05.2012 / 07:00
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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: harry.welten(at)cytos.com
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.
IN THE UNITED KINGDOM, THIS PRESS RELEASE IS DIRECTED ONLY AT (I) PERSONS
WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING
WITHIN ARTICLE 19(1) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000
(FINANCIAL PROMOTION) ORDER 2005 (THE 'ORDER'), AND (II) HIGH NET WORTH
ENTITIES FALLING WITHIN ARTICLE 49(2) OF THE ORDER, AND (III) PERSONS TO
WHOM IT WOULD OTHERWISE BE LAWFUL TO DISTRIBUTE IT.
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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29.05.2012 News transmitted by EquityStory AG.
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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: info(at)cytos.com
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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