4SC AG (4SC, FSE Prime Standard: VSC) today announced that Dr Daniel Vitt and the Supervisory Board of 4SC have agreed that Daniel Vitt will step down as Chief Development Officer and Chief Scientific Officer (CDO/CSO) as well as from the Management Board of 4SC as of 31 December 2016.
Dr Frank Hermann is promoted to CDO and Dr Roland Baumgartner to CSO, in each case without becoming a member of the Management Board. Both have already been members of 4SC's management team.
4SC's Supervisory Board thanks Daniel Vitt for 19 years of valuable Management Board service and contributions to the Company.
Information and Explanation of the Issuer to this News:
Dr Jason Loveridge, CEO of 4SC, commented: 'I would like to take this opportunity to thank Daniel Vitt for his invaluable contribution to 4SC over many years. His presence at the Company will be missed by all his colleagues, and we would all like to wish him the very best for the future.
The senior team at 4SC now continues to evolve to address the later stage clinical opportunities presented by resminostat and 4SC-202. I would like to congratulate Roland Baumgartner, who has been with 4SC for 14 years in Translational Pharmacology, and will provide continuity to our preclinical work as our new CSO. Frank Hermann, who recently joined from Bristol-Myers Squibb, will take the lead on drug development at 4SC as our new CDO to better support our growing late-stage clinical program. These changes to the senior team at 4SC help resource the Company for the continuing clinical development of our lead epigenetic cancer compounds resminostat and 4SC-202.'
4SC (www.4sc.com) is a biotech company dedicated to the research and development of small-molecule drugs focused on epigenetic mechanisms of action for the treatment of cancers with high unmet medical needs. These drugs are intended to provide innovative treatment options for cancer patients that are more tolerable and efficacious than existing therapies, provide a better quality of life and offer increased life expectancy. The Company's pipeline comprises promising products that are in various stages of clinical development. 4SC's aim is to generate future growth and enhance its enterprise value by entering into partnerships with pharmaceutical and biotech companies. Founded in 1997, 4SC had 50 employees as of 30 June 2016. 4SC has been listed on the Prime Standard of the Frankfurt Stock Exchange since December 2005.
Information set forth in this press release contains forward-lookingstatements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of 4SC as of
the date of this press release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond 4SC's control, and which could
cause actual results to differ materially from those contemplated in these forward-looking statements. 4SC expressly disclaims any obligation or undertaking to release any updates or revisions to any such statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
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