CellCyte Genetics Corp. Announces the Appointment of Douglas P. Cerretti, Ph.D. as Chief Science Officer and Director of Business Development
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EASTGATE, Wash.--(Business Wire)-- CellCyte Genetics Corporation (OTCBB: CCYG) announced today the appointment of Dr. Douglas Cerretti as Chief Science Officer and Director of Business Development, effective November 1, 2009. "I am very pleased to accept this appointment to guide the development of CellCyte`s bio-reactor product toward commercialization," said Dr. Cerretti. CellCyte`s bioreactor product is a cell expansion device that allows the culture of cells at high density and under precisely controlled oxygenation, providing an alternative to standard cell culture methods. CellCyte plans to develop this technology for applications in research laboratories and for clinical use. Dr. Cerretti is a biopharmaceutical research scientist with experience in drug development across different therapeutic areas. From 1984 to 2002 he served with Immunex and, after Immunex` acquisition in 2002, with Amgen in positions ranging from Staff Scientist through Scientific Director. Dr. Cerretti retired from Amgen in 2007. He is the author or co-author of more than 100 scientific publications and has over 40 issued US Patents to his name. Dr. Cerretti has been involved with CellCyte as an independent consultant, and, since November of 2008, has helped refine CellCyte`s Interim Operating Plan. This plan defines how the Company will operate, with limited funding over the next six to twelve months, to continue the commercialization of its bioreactor product. Dr. Cerretti`s appointment is the first of several planned appointments required to fully implement the Interim Operating Plan. CellCyte expects to formally adopt the plan by the end of 2009. "We are very confident that Doug has the experience and skills necessary to help lead the execution of the Interim Operating Plan and to build a successful Research and Development team," said John M. Fluke Jr., Chairman of the Board of Directors. "Doug joins me and Randy Lieber as CellCyte`s new management team, following the resignations of Gary Reys, the prior Chief Executive Officer, and Ron Berninger, CellCyte`s previous Chief Science Officer. These resignations were part of our consent decree settlement with the Securities and Exchange Commission negotiated in May of 2009 and finalized in September 2009, which brought to a close their investigation of CellCyte, and allows us to devote all of our energies to product research and development." About CellCyte Genetics: CellCyte Genetics, a Nevada corporation, is an emerging biotechnology company engaged in the principle business of the discovery, development and commercialization of products that enhance the productivity of biotechnology research laboratories. For further information see: www.cellcyte.com or contact Randy Lieber, CFO at randy.lieber@cellcyte.com Symbol: OTCBB - CCYG Safe Harbor Statement THIS NEWS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS", AS THAT TERM IS DEFINED IN SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES EXCHANGE ACT OF 1934, AS AMENDED. STATEMENTS IN THIS NEWS RELEASE WHICH ARE NOT PURELY HISTORICAL FACT ARE FORWARD-LOOKING STATEMENTS THAT STATE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS REGARDING THE FUTURE. EXCEPT FOR THE HISTORICAL INFORMATION PRESENTED HEREIN, MATTERS DISCUSSED IN THIS NEWS RELEASE CONTAIN FORWARD-LOOKING STATEMENTS THAT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY FUTURE RESULTS, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH STATEMENTS. STATEMENTS THAT ARE NOT HISTORICAL FACTS, INCLUDING STATEMENTS THAT ARE PRECEDED BY, FOLLOWED BY, OR THAT INCLUDE SUCH WORDS AS "ESTIMATE," "ANTICIPATE," "BELIEVE," "PLAN" OR "EXPECT" OR SIMILAR STATEMENTS ARE FORWARD- LOOKING STATEMENTS. RISKS AND UNCERTAINTIES FOR THE COMPANY INCLUDE, BUT ARE NOT LIMITED TO, THE RISKS ASSOCIATED WITH THE CLOSING OF THE CLOSING OF THE SHARE EXCHANGE AGREEMENT AND THE DEVELOPMENT AND FUNDING OF THE COMPANY CONSEQUENT THEREON, AS WELL AS THE RISKS SHOWN IN THE COMPANY'S MOST RECENT ANNUAL REPORT ON FORM 10-KSB AND ON FORM 10-QSB AND FROM TIME-TO-TIME IN OTHER PUBLICLY AVAILABLE INFORMATION REGARDING THE COMPANY. OTHER RISKS INCLUDE RISKS ASSOCIATED WITH THE REGULATORY APPROVAL PROCESS, COMPETITIVE COMPANIES, FUTURE CAPITAL REQUIREMENTS AND THE COMPANY'S ABILITY AND LEVEL OF SUPPORT FOR ITS RESEARCH AND DEVELOPMENT ACTIVITIES. THERE CAN BE NO ASSURANCE THAT THE COMPANY'S DEVELOPMENT EFFORTS WILL SUCCEED AND THE COMPANY WILL ULTIMATELY ACHIEVE COMMERCIAL SUCCESS. THESE FORWARD-LOOKING STATEMENTS ARE MADE AS OF THE DATE OF THIS NEWS RELEASE, AND THE COMPANY ASSUMES NO OBLIGATION TO UPDATE THE FORWARD-LOOKING STATEMENTS, OR TO UPDATE THE REASONS WHY ACTUAL RESULTS COULD DIFFER FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. ALTHOUGH THE COMPANY BELIEVES THAT THE BELIEFS, PLANS, EXPECTATIONS AND INTENTIONS CONTAINED IN THIS NEWS RELEASE ARE REASONABLE, THERE CAN BE NO ASSURANCE THOSE BELIEFS, PLANS, EXPECTATIONS OR INTENTIONS WILL PROVE TO BE ACCURATE. INVESTORS SHOULD CONSIDER ALL OF THE INFORMATION SET FORTH HEREIN AND SHOULD ALSO REFER TO THE RISK FACTORS DISCLOSED IN THE COMPANY'S PERIODIC REPORTS FILED FROM TIME-TO- TIME WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION. THIS NEWS RELEASE HAS BEEN PREPARED BY MANAGEMENT OF THE COMPANY WHO TAKE FULL RESPONSIBILITY FOR ITS CONTENTS. EACH OF THE NASD, THE SEC AND THE OTCBB NEITHER APPROVES NOR DISAPPROVES OF THE CONTENTS OF THIS NEWS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR CellCyte Genetics Corporation Randy Lieber, CFO, 425-519-3755 randy.lieber@cellcyte.com Copyright Business Wire 2009
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