CellCyte Genetics Corp. Announces the Appointment of Douglas P. Cerretti, Ph.D. as Chief Science Officer and Director of Business Development
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 [email protected]
Symbol: OTCBB - CCYG
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