Epigenomics AG

EANS-News: Epigenomics AG Announces Hand-Over of CFO Responsibility by End of Q1 2011

Current CFO Oliver Schacht leaving by March 31, 2011; Experienced CFO Successor to join April 1st, 2011

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Personnel/Molecular diagnostics

Subtitle: Current CFO Oliver Schacht leaving by March 31, 2011; Experienced CFO Successor to join April 1st, 2011

Berlin, Germany, and Seattle, WA, USA, December 14, 2010 (euro adhoc) - Epigenomics AG (Frankfurt Prime Standard: ECX), the cancer molecular diagnosis company, today announced the scheduled departure of its co-founder and long-standing Chief Financial Officer (CFO) of Epigenomics AG, Oliver Schacht PhD, effective from 31st March 2011.

In his place, the Board has recruited an experienced CFO to take over, effective from 1st April 2011 and has taken measures to ensure a well-planned and structured transition during Q1 2011.  Due to confidentiality obligations under the new CFO´s current public company employment, Epigenomics expects to make the announcement of the new CFO in the first weeks of January.

In addition Epigenomics intends to strengthen its commercial operation in the US by recruiting an experienced US-based marketing and sales executive to head the U.S.-based operations, currently run by the departing CFO, and to lead the transformation of that organization into a commercial molecular diagnostics enterprise. With such an addition Epigenomics expects to be well-positioned to drive its U.S. commercialization strategy following an anticipated FDA approval of its colorectal cancer blood test.

Professor Dr. Rolf Krebs, Chairman of Epigenomics AG´s Supervisory Board stated: "On behalf of the Supervisory Board, we thank Oliver for his dedication, professionalism and commitment to Epigenomics. Over the past 12 years, he has been a key member of the team during three rounds of venture capital financing, an IPO, and a trans-Atlantic merger with successful post- merger integration. He is leaving at a time when the Company has been transformed into a much leaner, more effective and efficient commercial diagnostics company. Although we are sorry to be losing Oliver we are fully supportive of his desire to take on a new challenge and we all wish him the best of luck in his new endeavors."

"As a co-founder and twelve-year veteran of Epigenomics moving on to a new role has been a tough decision to take. I have been working closely with the team to ensure the succession planning and hand-over to the new CFO will be as seamless as possible," said Oliver Schacht, CFO. "I am looking forward to a new challenge as CEO of Curetis AG, a private molecular diagnostic company that is in a different area to Epigenomics. I wish the team of Epigenomics all the best for the future."

Geert Nygaard, CEO of Epigenomics commented: "Since taking over as CEO four years ago, I have greatly enjoyed working with Oliver. He has been instrumental in guiding the company through the transition from a biotech start-up to becoming a commercially focused molecular diagnostics company. We congratulate him on his new role as CEO of Curetis." He added: "Epigenomics is in the strongest position it has ever been since its inception. As a result, the candidates we have attracted to take on the CFO role have been very strong. Oliver´s successor is a highly experienced international CFO and we look forward to giving shareholders and the market more information in the New Year."


Contact Epigenomics AG Dr. Achim Plum Sen. VP Corporate Development Epigenomics AG Tel +49 (0) 30 24345 368 pr@epigenomics.com   www.epigenomics.com

About Epigenomics

Epigenomics AG is a molecular diagnostics company with a focus on the development of novel products for cancer. Using DNA methylation biomarkers, Epigenomics´ tests on the market and in development for colorectal, lung, and prostate cancer aim at aiding in an earlier and more accurate diagnosis of these diseases, thereby potentially increasing the patient´s chances of survival.

For development and global commercialization of IVD test products, Epigenomics pursues a dual business strategy in which direct commercialization of proprietary diagnostic test products is combined with non-exclusive licensing to diagnostic industry players with broad customer access. Strategic diagnostics industry partners include Abbott Molecular, Sysmex Corporation, Quest Diagnostics Incorporated, ARUP Laboratories, Inc., and Warnex Laboratories, Inc. for diagnostics test products and services, and QIAGEN N.V. for sample preparation solutions and research products.

The company is headquartered in Berlin, Germany, and has a wholly owned subsidiary, Epigenomics Inc., in Seattle, WA, USA. For more information, please visit Epigenomics´ website at www.epigenomics.com.

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.

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Further inquiry note: Epigenomics AG Dr. Achim Plum Sen. VP Corporate Development Tel: +49 30 24345 368 achim.plum@epigenomics.com

Branche: Biotechnology
ISIN:      DE000A0BVT96
WKN:        A0BVT9
Index:    Prime All Share, Technology All Share
Börsen:  Frankfurt / regulated dealing/prime standard
              Berlin / free trade
              Hamburg / free trade
              Stuttgart / free trade
              Düsseldorf / free trade
              München / free trade

Weitere Meldungen: Epigenomics AG

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