LAWRENCEVILLE, N.J.,
Oct. 7, 2014 /PRNewswire/
-- Celsion Corporation (NASDAQ: CLSN) announced that the Board
of Directors has appointed Michael H.
Tardugno, the Company's President and CEO, to the additional
position of Executive Chairman of the Board. Mr. Tardugno's
appointment is consistent with the Board's previously established
succession plan and follows the passing of Max E. Link, Ph.D. which was announced earlier
today. At the direction of Mr. Tardugno, the Nominating
Committee of the Board of Directors has begun the process to
identify qualified candidates to fill the vacancy on the Company's
Board.
Mr. Tardugno joined Celsion on January 3, 2007 as President and Chief Executive
Officer and was elected to the Board of Directors on
January 22, 2007. Under his leadership, Celsion has been
positioned as a leading drug development company with its first
drug candidate, ThermoDox®, in a global Phase III Study of primary
liver cancer. The Company's recent acquisition of EGEN, a
clinical stage nucleic acid therapeutics company, completes its
transition to a fully integrated biotechnology company with
additional research interests in some of cancer's globally most
important forms. Before joining Celsion, Mr. Tardugno served
as Senior Vice President and General Manager of Mylan Technologies,
a subsidiary of Mylan, Inc. from 2005 to 2007. Prior to
Mylan, his career in general management included Executive Vice
President of Songbird Hearing, Inc., a medical device company
spun out of Sarnoff Corporation. From 1995 to 1998, he
held the position of Senior Vice President of Technical Operations
Worldwide for a division of Bristol-Myers Squibb. Prior to
Bristol-Myers Squibb, he held the position of Senior Vice President
of World-wide Technology Development and Manufacturing with
Bausch & Lomb and increasingly senior executive positions
with Abbott Laboratories.
About Celsion Corporation
Celsion is a fully-integrated oncology company focused on
developing a portfolio of innovative cancer treatments, including
directed chemotherapies, immunotherapies and RNA- or DNA-based
therapies. The Company's lead program is ThermoDox®, a proprietary
heat-activated liposomal encapsulation of doxorubicin, currently in
Phase III development for the treatment of primary liver cancer.
The pipeline also includes EGEN-001, a DNA-based immunotherapy for
the localized treatment of ovarian and brain cancers. Celsion
has three platform technologies for the development of novel
nucleic acid-based immunotherapies and other anti-cancer DNA or RNA
therapies, including TheraPlas™, TheraSilence™ and RAST ™.
For more information on Celsion, visit our website:
http://www.celsion.com.
Celsion wishes to inform readers that forward-looking
statements in this release are made pursuant to the "safe harbor"
provisions of the Private Securities Litigation Reform Act of
1995. Readers are cautioned that such forward-looking
statements involve risks and uncertainties including, without
limitation, unforeseen changes in the course of research and
development activities and in clinical trials; the uncertainties of
and difficulties in analyzing interim clinical data, particularly
in small subgroups that are not statistically significant; FDA and
regulatory uncertainties and risks; the significant expense, time,
and risk of failure of conducting clinical trials; the need for
Celsion to evaluate its future development plans; possible
acquisitions or licenses of other technologies, assets or
businesses or the possible failure to make such acquisitions or
licenses; possible actions by customers, suppliers, competitors,
regulatory authorities; and other risks detailed from time to time
in the Celsion's periodic reports and prospectuses filed with the
Securities and Exchange Commission. Celsion assumes no
obligation to update or supplement forward-looking statements that
become untrue because of subsequent events, new information or
otherwise.
Celsion Investor Contact
Jeffrey W. Church
Sr. Vice President and CFO
609-482-2455
jchurch@celsion.com
SOURCE Celsion Corporation