Cytos Biotechnology Ltd Nominates Dr. Christian Itin, former President and CEO of Micromet Inc., as a Non-executive Director <\/p>\n
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 Companys shareholders the election of Dr. Itin as member of the Board at the Companys next general meeting. <\/p>\n
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. <\/p>\n
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. <\/p>\n
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 Christians contributions to Cytos growth and future success. <\/p>\n
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. <\/p>\n
For further information please contact: <\/p>\n
Cytos Biotechnology Ltd Harry Welten Chief Financial Officer Tel.: +41 44 733 46 46 e-Mail: harry.welten@cytos.com<\/a> Website: http:\/\/www.cytos.com<\/a> <\/p>\n 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 patients 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. <\/p>\n 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. <\/p>\n<\/p>\n See original here: 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 Continue reading
\nDGAP-News: Cytos Biotechnology Ltd Nominates Dr. Christian Itin, former President and CEO of Micromet Inc., as a Non ...<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"