Cytos Biotechnology Strengthens Management Team
ZURICH, March 12, 2013
ZURICH, March 12, 2013 /PRNewswire/ --
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
"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 clinical
development 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
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
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."
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.
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.
SOURCE Cytos Biotechnology Ltd
Contact: For further information, please contact: Cytos Biotechnology Ltd,
Harry Welten, Chief Financial Officer , Tel: +41-44-733-46-46 , e-mail:
firstname.lastname@example.org. US Investor enquiries, Susan A. Noonan, Tel:
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