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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
  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.
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."
-Ends-
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.
end of announcement                               euro adhoc

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

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