NEW YORK--(BUSINESS WIRE)--
ImClone Systems Incorporated (NASDAQ: IMCL) announced today that
Ana I. Stancic, Vice President, Finance and Chief Accounting Officer,
has been promoted to Senior Vice President, Finance. In this role, Ms.
Stancic will oversee the Company's finance department, information
technology and internal audit. Ms. Stancic joined ImClone Systems as
Vice President, Controller and Chief Accounting Officer in 2004.
¶ The Company also announced that Michael J. Howerton, Senior Vice
President, Finance and Chief Financial Officer, has decided to leave
the Company. Mr. Howerton's decision was a personal decision and is
not a reflection on the financial condition of the Company or any
issues relating to financial controls.
¶ Before joining the Company, Ms. Stancic was Vice President and
Controller at Savient Pharmaceuticals, Inc. from 2003 to
February 2004. Ms. Stancic was Vice President and Chief Accounting
Officer at Ogden Corporation from 1999 to 2002 and Regional Chief
Financial Officer at OmniCare, Inc. from 1997 to 1999. Ms. Stancic
began her career in 1985 at PricewaterhouseCoopers in the Assurance
practice where she had responsibility for international and national
companies in the pharmaceutical and services industries. Ms. Stancic
is a Certified Public Accountant and holds an M.B.A. degree from
Columbia Business School.
¶ "Ana has been closely involved in ImClone Systems' financial
operations during her tenure here and has taken the lead in
establishing enhanced financial systems and controls within the
Company. She has also provided significant support to senior
management in managing their financial resources," stated Joseph L.
Fischer, Interim Chief Executive Officer of ImClone Systems. "We thank
Michael for his years of service to the Company and for his valuable
contributions during that time."
¶ About ImClone Systems Incorporated
¶ ImClone Systems Incorporated is committed to advancing oncology
care by developing and commercializing a portfolio of targeted
biologic treatments designed to address the medical needs of patients
with a variety of cancers. The Company's research and development
programs include growth factor blockers and angiogenesis inhibitors.
ImClone Systems' strategy is to become a fully integrated
biopharmaceutical company, taking its development programs from the
research stage to the market. ImClone Systems' headquarters and
research operations are located in New York City, with additional
administration and manufacturing facilities in Branchburg, New Jersey.
¶ Certain matters discussed in this news release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and the Federal securities
laws. Although the company believes that the expectations reflected in
such forward-looking statements are based upon reasonable assumptions
it can give no assurance that its expectations will be achieved.
Forward-looking information is subject to certain risks, trends and
uncertainties that could cause actual results to differ materially
from those projected. Many of these factors are beyond the company's
ability to control or predict. Important factors that may cause actual
results to differ materially and could impact the company and the
statements contained in this news release can be found in the
company's filings with the Securities and Exchange Commission
including quarterly reports on Form 10-Q, current reports on Form 8-K
and annual reports on Form 10-K. For forward-looking statements in
this news release, the company claims the protection of the safe
harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995. The company assumes no
obligation to update or supplement any forward-looking statements
whether as a result of new information, future events or otherwise.
ImClone Systems Incorporated
Andrea F. Rabney, 646-638-5058
Stefania Bethlen, 646-638-5058
David M. F. Pitts, 646-638-5058
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