|By PR Newswire||
|December 4, 2013 01:00 AM EST||
ZURICH, December 4, 2013 /PRNewswire/ --
Cytos Biotechnology Ltd (SIX:CYTN) ("Cytos" or the "Company") today announced that Dr. Yamo Deniz is proposed to join Cytos' Board of Directors. Dr. Deniz played a key role in the filing and approval of multiple drugs and in-vivo diagnostics agents in several therapeutic areas of unmet need, including omalizumab (Xolair®) for the treatment of asthma in the US and the EU. His extensive experience in the clinical development of asthma products further strengthens Cytos' Board of Directors.
Dr. Christian Itin, Chairman and CEO of Cytos, said: "With Dr. Yamo Deniz we are strengthening our Board of Directors with an industry expert in allergic asthma, the key area of focus for our lead program CYT003. His experience in developing, obtaining approval for and commercialization of the first biological in asthma is highly relevant for the development and positioning of CYT003. Dr. Yamo Deniz will join as an independent director."
About Dr. Yamo Deniz
Yamo Deniz, MD, currently serves as Chief Medical Officer, Global Head of Medical & Pharmacovigilance at GE Healthcare Lifesciences. Prior to joining GEHC in 2010, Dr. Deniz held numerous senior clinical and leadership positions of increasing responsibilities in respiratory as well as inflammation groups at Genentech and Roche, respectively. Dr. Deniz played a key role in the filing and approval of multiple drugs and in-vivo diagnostics agents in several therapeutic areas of unmet need, including omalizumab (Xolair®) for the treatment of asthma in the US and the EU. He also oversaw the lifecycle management plans of marketed products for other indications. In addition, he led Genentech's Peanut Allergy program. Dr. Deniz graduated with a BA in Chemistry from the College of the Holy Cross. After finishing his medical studies at the University of Massachusetts, Dr. Deniz completed a pediatric residency in New York and a sub-specialty training in Pediatric Allergy & Immunology at Duke University Medical Center in North Carolina. Prior to joining Genentech in 2001, Dr. Deniz worked at the Karolinska Institutet Pediatric Hospital and remains actively involved in the respiratory, allergy and immunology fields. He currently also serves as a member of the corporate scientific advisory board of DBV Technologies.
Extraordinary Shareholders' Meeting on December 30, 2013
In order to elect Dr. Deniz to the Board of Directors, an extraordinary shareholders' meeting will be held on December 30, 2013. Additional agenda items at this meeting are an increase of the authorized share capital by 2'715'946 registered shares and an increase of the conditional share capital for financing purposes by 905'315 registered shares, bringing both authorized and conditional share capital to 50% of the issued share capital. In addition, the Board proposes an amendment to the resolution no. 2 of the annual general meeting of shareholders held on June 28, 2013 (Compensation of Loss). The invitation for the shareholders meeting will be mailed to registered shareholders within the next few days.
The invitation including the agenda is available for downloading at
About CytosBiotechnology Ltd
Cytos is a public biopharmaceutical company focused on the development of targeted immuno-therapies. The Company's lead product candidate CYT003 is a novel, first-in-class, immune modulator in Phase 2 clinical development as a potential new treatment for asthma.
CYT003 has a novel mechanism of action that inhibits the immune response that causes asthma, and may therefore be beneficial for the control of asthma. In a successfully completed Phase 2a study, CYT003 was shown to maintain asthma control and lung function in patients with persistent allergic asthma, despite withdrawal of standard therapy with inhaled corticosteroids. CYT003 has been shown to have a good safety and tolerability profile in more than 450 individuals receiving the active agent so far.
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.
Forward Looking Statements
This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words "committed", "could", "will", "plans", "enable", "expected", "proposed", "intends", "planned," or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic and financial factors, including that CYT003 may not demonstrate safety or efficacy in clinical trials, that there may be delays in development or that CYT003 may not receive marketing approval, and that the Company relies on outside financing to meet capital requirements, which may not be available under acceptable terms or at all. Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments.
For further information, please contact:
Cytos Biotechnology Ltd
Chief Financial Officer
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Susan A. Noonan
SOURCE Cytos Biotechnology Ltd