SAN DIEGO, Dec. 28, 2016 (GLOBE NEWSWIRE) — Cytori Therapeutics, Inc. (Nasdaq:CYTX) (“Cytori” or the “Company”) today announced that Ronald A. Martell has joined the Company’s Board of Directors to serve as an independent director, effective December 27, 2016.
Mr. Martell has more than 25 years’ experience building and managing unique businesses in the biotech industry, and most recently served as Chief Executive Officer at Sevion Therapeutics, prior to which he held similar roles at NeurogesX and at Poniard Pharmaceuticals. Earlier in his career Mr. Martell served as Senior Vice President of Commercial Operations at ImClone Systems, where he built ImClone Systems’ worldwide commercial operations and field sales force to market and commercialize Erbitux® with partners Bristol-Myers Squibb and Merck KGaA. Prior to joining ImClone Systems, Mr. Martell worked for more than 10 years at Genentech in a variety of leadership positions, the last of which was Group Manager, Oncology. At Genentech, he was responsible for building the company’s oncology franchise including the launch of Herceptin® for metastatic HER-2 positive breast cancer and Rituxan® for non-Hodgkin’s lymphoma.
“Cytori is fortunate to have someone with Ron’s background and expertise join our board at this point in our development,” said Dr. Marc H. Hedrick, M.D., President and Chief Executive Officer. “In particular, Ron’s expertise and network in commercial operations and experience in portfolio creation and management will provide substantial insight and expertise for the Company in 2017. I am looking forward to working with him.”
“Cytori’s ECCS-50 therapy is both novel and addresses a true underserved medical market,” commented Mr. Martell. “I have been a part of numerous companies at this exciting stage of the corporate lifecycle and this technology is truly transformative. I believe I can bring the benefit of my experience and perspective to an already experienced life sciences management team and board of directors.”
Cytori Therapeutics is a late stage cell therapy company developing autologous cell therapies from adipose tissue to treat a variety of medical conditions. Data from preclinical studies and clinical trials suggest that Cytori Cell Therapy™ acts principally by improving blood flow, modulating the immune system, and facilitating wound repair. As a result, Cytori Cell Therapy™ may provide benefits across multiple disease states and can be made available to the physician and patient at the point-of-care through Cytori’s proprietary technologies and products. For more information visit www.cytori.com.
Cytori Therapeutics, Inc.
Tiago Girao, +1 (858) 458.0900