EANS-News: Epigenomics AG Epigenomics AG Announces Changes to Management Team
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Management Changes/Company
Berlin (euro adhoc) - Press release
Epigenomics AG Announces Changes to Management Team
Berlin, Germany, and Seattle, WA, U.S.A., September 25, 2012 - Epigenomics AG
(Frankfurt Prime Standard: ECX), the German-American cancer molecular
diagnostics company, today announced that Dr. Thomas Taapken, currently Chief
Financial Officer at Epigenomics, has been appointed by the Board of Directors
to serve as acting Chief Executive Officer in addition to his responsibilities
as CFO, effective 1 October 2012. He will replace Geert Nygaard who agreed with
the Supervisory Board of the Company that he will leave the Executive Management
of the company effective September 30, 2012.
The Supervisory Board concomitantly also widened the responsibilities of Dr. Uwe
Staub, currently Senior Vice President for Research & Development, promoted him
to COO and granted him "Prokura" (power of attorney). His current duties will be
expanded by the responsibility for Medical and Regulatory Affairs and Customer
Support.
"We are very pleased to be announcing the appointment of Thomas Taapken to the
position of acting CEO in addition to his role as CFO and have full confidence
that Thomas will be able to guide the Company through its most critical
near-term milestones including the submission of the final Premarket Approval
(PMA) module for Epi proColon® and subsequent U.S. FDA approval but will also be
pivotal in helping secure the financial resources necessary to fund the
operations beyond its current cash reach," said Heino von Prondzynski,
Epigenomics' Chairman of the Board. "Thomas has proven to be a significant
leader with extensive industry insight and experience including a background in
corporate development, venture capital, and management leadership. Furthermore,
he has a keen understanding of a company's need to drive shareholder value and
the Board of Directors is very pleased that he has agreed to accept this
additional challenge."
"We are also extremely pleased that Dr. Uwe Staub has accepted the newly created
function of COO accumulating Medical and Regulatory Affairs and Customer Service
to his already existing Leadership in R&D and Operations. He and his actual team
have so far reached all promised milestones. Due to their significant
contributions the company is fully on track to complete the FDA submission later
this year and to reach its ultimate goal of introducing Epi proColon® as the
first approved blood-based test for the early detection of colorectal cancer
into the U.S. market, milestones extremely important for the near and mid-term
future of the company. Reducing the Board to one person is also a significant
step in reducing the burn-rate, a task which is on the top of the Management and
Board agenda."
"On behalf of the Board of Directors, I would like to thank Geert Nygaard for
his dedication to the Company for the past five and half years. Under his
leadership, Epigenomics transformed from a research based organization to a
commercially focused company with two products on the market. We wish him well
in his future endeavors."
"I am honored to be appointed by the Supervisory Board as the Company's acting
CEO and am truly excited by the prospect of leading Epigenomics together with my
senior management colleagues during this time of significant changes", said
Thomas Taapken. "As we await the results of the head-to-head comparative study
of Epi proColon® to fecal immunochemical testing (FIT) which are expected in the
fourth quarter we are appropriately conducting pre-marketing activities to build
additional awareness of the test and are speaking with private payors and key
leaders in colorectal cancer. We remain committed to filing the last module of
our PMA soon after the FIT comparison study is completed and I look forward to
keeping you apprised of our clinical and regulatory activities. At the same
time, we will be making the necessary decisions to secure additional financing
in order to extend the current cash reach of the company beyond its most
critical milestones"
- Ends -
Contact Epigenomics AG
Antje Zeise
Manager IR | PR
Epigenomics AG
Tel +49 (0) 30 24345 368
ir@epigenomics.comwww.epigenomics.com
About Epigenomics
Epigenomics (www.epigenomics.com) is a molecular diagnostics company developing
and commercializing a pipeline of proprietary products for cancer. The Company's
products enable doctors to diagnose cancer earlier and more accurately, leading
to improved outcomes for patients. Epigenomics' lead product, Epi proColon®, is
a blood-based test for the early detection of colorectal cancer, which is
currently marketed in Europe and is in development for the U.S.A. The Company's
technology and products have been validated through multiple partnerships with
leading global diagnostic companies including Abbott, QIAGEN, Sysmex, and Quest
Diagnostics. Epigenomics is an international company with operations in Europe
and the U.S.A.
Epigenomics legal disclaimer
This communication expressly or implicitly contains certain forward-looking
statements concerning Epigenomics AG and its business. Such statements involve
certain known and unknown risks, uncertainties and other factors which could
cause the actual results, financial condition, performance or achievements of
Epigenomics AG to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements.
Epigenomics AG is providing this communication as of this date and does not
undertake to update any forward-looking statements contained herein as a result
of new information, future events or otherwise.
The information contained in this communication does not constitute nor imply an
offer to sell or transfer any product, and no product based on this technology
is currently available for sale by Epigenomics in the United States or Canada.
The analytical and clinical performance characteristics of any Epigenomics
product based on this technology which may be sold at some future time in the
U.S. have not been established.
Further inquiry note:
Antje Zeise | CIRO
Manager IR/PR
Epigenomics AG
Tel: +49 30 24345 386
end of announcement euro adhoc
--------------------------------------------------------------------------------
company: Epigenomics AG
Kleine Präsidentenstraße 1
D-10178 Berlin
phone: +49 30 24345-0
FAX: +49 30 24345-555
mail: ir@epigenomics.com
WWW: http://www.epigenomics.com
sector: Biotechnology
ISIN: DE000A1K0516
indexes: Prime All Share, Technology All Share
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English