ROCKVILLE, Md., Sept. 10, 2008 (GLOBE NEWSWIRE) -- Cytomedix, Inc. (AMEX:GTF) today announced the appointment of Dr. Peter Anton Clausen, Ph.D., a seasoned biochemist with nearly 15 years experience in the biotechnology sector, to the position of Vice President of Business Development.
As VP of Business Development, Dr. Clausen, who has been a consultant to Cytomedix since May of this year, will be responsible for the coordination of the IND submission and Phase I study of its CT-112 peptide, an anti-inflammatory peptide that has shown favorable pre-clinical activity. Dr. Clausen will also spearhead the cultivation of collaborative agreements and research grants, including licensing opportunities, surrounding the Company's proprietary AutoloGel(tm) System, as well as providing scientific support for the sales, marketing, and reimbursement efforts.
"We are delighted to have a distinguished scientist of Dr. Clausen's caliber join our management team," said Martin Rosendale, Chief Executive Officer of Cytomedix, Inc. "Pete's experience in the biotechnology sector, primarily in the research and development of new products, will further our efforts in the development of our CT-112 peptide, as well as help facilitate collaborative agreements regarding our AutoloGel(tm) System and other technologies," Mr. Rosendale added.
"I have had the privilege of working with the Cytomedix team on a consulting basis for more than three months and I am excited to assume my new role helping the Company expand opportunities for AutoloGel(tm), as well as in the further development of the CT-112 peptide which, I believe, represents a potential new treatment for inflammatory diseases such as Rheumatoid Arthritis, Crohn's Disease and other related medical conditions," Dr. Clausen stated.
Dr. Clausen joins Cytomedix after nearly seven years as a founding member and Vice President of Research and Development at Marligen Bioscience, an Ijamsville, Md.-based company that develops, manufactures and markets innovative products for the life sciences market. Prior to Marligen Bioscience, he was a Manager of New Purification Technologies at Life Technologies, Inc. (now Invitrogen Corporation), a Rockville, Md.-based biotechnology company that provides essential life science technologies for disease research, drug discovery, and commercial bioproduction. Dr. Clausen also brings experience gained through employment at Pro-Neuron Inc., (now Wellstat Therapeutics, Inc.), a Gaithersburg, Md.-based biotechnology company, where he worked to develop novel peptide and small molecule therapeutics. He completed his post-doctoral training in the Laboratory of Molecular Oncology at the National Cancer Institute where his research efforts focused in the areas of oncology, hematopoiesis, and gene therapy. Dr. Clausen holds a Bachelor of Science degree in Biochemistry from Beloit College and a Ph.D. in Biochemistry from Rush University.
ABOUT CYTOMEDIX
Cytomedix is a biotechnology company that develops, sells, and licenses regenerative biological therapies, including the AutoloGel(tm)System, a device for the production of platelet rich plasma ("PRP") gel derived from the patient's own blood. The AutoloGel(tm)System is cleared by the Food and Drug Administration ("FDA") for use on a variety of exuding wounds. The Company is currently pursuing a multi-faceted strategy to penetrate the chronic wound market with its AutoloGel(tm)System. The Company is also moving forward with the development of other product candidates in its pipeline.
Most notably is its CT-112 product, an anti-inflammatory peptide that has shown promise in pre-clinical testing, and for which the Company is currently preparing an Investigational New Drug (IND) application for the FDA. Additional information regarding Cytomedix is available at: http://www.cytomedix.com.
SAFE HARBOR STATEMENT
Statements contained in this press release not relating to historical facts are forward-looking statements that are intended to fall within the safe harbor rule for such statements under the Private Securities Litigation Reform Act of 1995. The information contained in the forward-looking statements is inherently uncertain, and Cytomedix's actual results may differ materially due to a number of factors, many of which are beyond Cytomedix's ability to predict or control, including among others, the ability of the Company's management to achieve its strategic goals, the success of new sales initiatives, studies, or trials, obtainment of broad reimbursement, development of CT-112, entrance into or results from any collaborative agreements, ability to secure research grants, licensing activities, and development of other technologies under the Company's patents or products in its pipeline.
These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual events to differ from the forward-looking statements. More information about some of these risks and uncertainties may be found in the reports filed with the Securities and Exchange Commission by Cytomedix, Inc. Except as is expressly required by the federal securities laws, Cytomedix undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason.