Susan Ciallella to Assume Role of Interim CEO at Isolagen
October 03 2005 - 8:30AM
PR Newswire (US)
EXTON, Pa., Oct. 3 /PRNewswire-FirstCall/ -- Isolagen, Inc.
(AMEX:ILE) announced that the Board of Directors has appointed
Susan Ciallella to the position of Interim Chief Executive Officer.
Ms. Ciallella's appointment follows the resignation of Frank DeLape
from the post of CEO, effective immediately. Since joining the
Company, Ms. Ciallella has been involved in all facets of the
Company's operations and management in addition to fulfilling her
responsibilities as General Counsel. The Board of Directors'
decision to select Ms. Ciallella to lead the Company's efforts
until a permanent CEO can be identified was based upon the
leadership qualities that she has demonstrated and the confidence
that she has earned from our management team and key business
partners. Ms. Ciallella previously served as Executive Vice
President, General Counsel and Secretary and is a member of
Isolagen's Board of Directors. Prior to joining Isolagen, Ms.
Ciallella served as outside legal counsel and business adviser to a
number of public companies, including Isolagen. There will be no
change in Ms. Ciallella's compensation agreement. Mr. DeLape will
continue as Non-Executive Chairman of the Board. The move to
appoint Ms. Ciallella to the CEO post coincides with the completion
of the build-out of the Exton facility and the hiring of additional
key management and personnel in Exton to complete the validation of
the facility. Isolagen's Board of Directors has made substantial
progress in identifying a short list of candidates for the CEO
position and the Company intends to announce its selection once a
final decision is made. Isolagen remains committed to making the
Isolagen Process commercially viable and available on a global
scale and continues to focus on its primary objectives of executing
its regulatory and clinical strategies, implementing automated and
cost effective process improvements, establishing a comprehensive
marketing strategy and reducing the Company's burn rate. ABOUT
ISOLAGEN, INC. Isolagen specializes in the development and
commercialization of autologous cellular therapies for soft and
hard tissue regeneration. The company's product candidates are
based on its proprietary Isolagen Process. Based on the accumulated
experience of the company through its retrospective study, clinical
trials and treatment of patients in the United Kingdom, the company
believes that the Isolagen Process utilizes the patient's own cells
to create safe and effective therapies to treat the underlying
cause of the patient's condition. Autologous cellular therapy is
the process whereby a patient's own cells are extracted, allowed to
multiply and then injected into the patient. Isolagen's product
candidates are designed to be minimally invasive and non-surgical.
Forward-looking statements in this release are made pursuant to the
safe harbor provisions of the federal securities laws. Information
contained in forward-looking statements is based on current
expectations and is subject to change, and actual results may
differ materially from the forward-looking statements. Isolagen,
Inc. does not undertake to update any such forward- looking
statements or to publicly announce developments or events relating
to the matters described herein. DATASOURCE: Isolagen, Inc.
CONTACT: Mark A. Kahil, V.P., Investor Relations of Isolagen, Inc.,
+1-484-713-6050 Web site: http://www.isolagen.com/
Copyright
Isolagen (AMEX:ILE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Isolagen (AMEX:ILE)
Historical Stock Chart
From Jul 2023 to Jul 2024