DGAP-News: Cytos Biotechnology Strengthens Management Team
(firmenpresse) - EquityStory AG-News: Cytos Biotechnology AG / Key word(s): Change of
Personnel
Cytos Biotechnology Strengthens Management Team
12.03.2013 / 07:00
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Cytos Biotechnology Strengthens Management Team
Schlieren (Zurich), Switzerland, March 12, 2013 - Cytos Biotechnology Ltd
(SIX:CYTN) today announced the appointment of Matthias Alder as Executive
Vice President for Corporate Development and Legal Affairs and Cheryl
Lassen as Vice President for Clinical Development. Philipp Mueller,
Executive Vice President Clinical Development, will retire at the end of
March 2013.
'We welcome Matthias Alder and Cheryl Lassen to our team. They bring
significant additional experience and leadership to Cytos, which we believe
will be critical to shape and execute our CYT003 program and corporate
strategy', commented Christian Itin, PhD, CEO and Chairman of Cytos, and
continued: 'We thank Philipp Mueller for his many contributions and in
particular for his work on the CYT003 program in allergic asthma and
rhinitis, which forms the basis and focus of Cytos today. We are very
grateful that Philipp will continue to work with Cytos as a consultant and
wish him all the best for his future'.
Matthias Alder joins Cytos as Executive Vice President Corporate
Development and Legal Affairs. He has more than 19 years' of business,
transactional and legal experience in the pharmaceutical and biotechnology
industries. Most recently, he served as Senior Vice President
Administration, General Counsel and Secretary of Micromet, Inc., a formerly
Nasdaq-listed biopharmaceutical company located in Rockville, MD and
Munich, Germany that was acquired by Amgen in 2012 for US$1.2 billion in
cash. Prior to joining Micromet, he was a partner in the Life Sciences
Transactions Practice at Cooley LLP, a renowned technology and life
sciences-focused US law firm, where he specialized in representing biotech
companies in strategic transactions with pharmaceutical companies. Earlier
in his career, Mr. Alder was in-house counsel at Ciba-Geigy and Novartis.
He holds law degrees from the University of Basel and the University of
Miami (Florida), and is qualified to practice law in Switzerland and the
United States.
Matthias Alder commented: 'This is an exciting time to join Cytos. The
company's lead program CYT003 has already achieved clinical proof of
concept and the underlying product platform has multiple additional
applications. I am looking forward to support building Cytos into one of
the premier biotech companies in the vaccines and immunotherapy space.'
Cheryl Lassen, MD, joins Cytos as Vice President Clinical Development,
bringing a wealth of clinical development experience, with particular
expertise in respiratory diseases. Dr. Lassen joins Cytos from Novartis
where she was Program Leader for the global clinical development of the
indacaterol program, a product since approved by the US FDA, EMA, Japan and
many countries worldwide. In her 20 year career, she has worked on a
multitude of clinical development programs and in medical affairs in the UK
and in South Africa for companies including Bristol Myers Squibb, Abbott
Laboratories and Pharmacia. Dr. Lassen received her Medical Degree from the
University of the Witwatersrand in South Africa and holds a Science degree
in microbiology and physiology from the University of South Africa. She
will lead the clinicaldevelopment activities at Cytos.
Cheryl Lassen, MD, commented: 'I am looking forward to leading the clinical
development of CYT003, which is a first-in-class, unique immune modulator
in development for the asthma indication. The clinical data from the Phase
2a study achieved its primary endpoint for asthma control and all other
clinical endpoints were also met. This is an excellent basis to build the
development program.'
Philipp Mueller, MD, the current Executive Vice President Clinical
Development will retire at the end of March 2013 and will continue to
support the company as a consultant thereafter. Philipp joined in 2003 from
Novartis and was responsible for all clinical development activities of
Cytos during his tenure.
Philipp Mueller, MD, commented: 'I am delighted to see the CYT003 project
move from successful proof of concept to full development and would like to
thank investigators and patients who participated in our studies, as well
the teams at Cytos and external partner firms for their commitment and
support'.
###
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
US Investor enquiries
Susan A. Noonan
Tel: +1 (212) 966 3650
e-mail: susan(at)sanoonan.com
About Cytos Biotechnology Ltd
Cytos is a public biopharmaceutical company focused on the development of
targeted immuno-therapies. The Company's lead product candidate CYT003 is a
first-in-class biologic in Phase 2 clinical development as a potential new
treatment for allergic asthma.
CYT003 acts via a novel, allergen-independent mechanism of action to
selectively suppress the body's immune response to allergens, a predominant
risk factor for asthma. In a successfully completed Phase 2a study, CYT003
was shown to maintain asthma control and lung function and asthma control
in patients with persistent allergic asthma, even as standard inhaled
corticosteroid treatment was withdrawn. CYT003 has been shown to be safe in
over 450 patients to date.
Cytos was founded in 1995 as a spinoff from the Swiss Federal Institute of
Technology (ETH) in Zurich. It is located in Schlieren (Zurich),
Switzerland. The Company is listed according to the Main Standard on the
SIX Swiss Exchange Ltd under the symbol CYTN.
www.cytos.com
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.
End of Corporate News
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12.03.2013 This press release was distributed by EQS CORPORATE
COMMUNICATIONS.
www.eqs.com - news archive: www.eqs.com/ch/presskit
The issuer is responsible for the contents of the release.
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Language: English
Company: Cytos Biotechnology AG
Wagistr. 25
8952 Schlieren
SwitzerlandPhone: +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;
Frankfurt in Open Market ; SIX
End of News EquityStory AG News-Service
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Datum: 12.03.2013 - 07:00 Uhr
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