EUCODIS Bioscience Appoints Thomas Fischer as New CEO (Dec. 7, 2009)
Enzyme Developer to Strengthen Commercial Focus - Outgoing CEO Dr. Pandjaitan to Acquire Majority Stake in Former Research Subsidiary in Management Buy-In
Vienna, Europe, December 7, 2009 - EUCODIS Bioscience, a company developing, customizing, manufacturing, and marketing enzymes for the chemical industry, announced today that it has appointed Mr Thomas Fischer, currently CFO, as new CEO of the Company. Going forward, EUCODIS Bioscience' sole focus will be to provide high-performance enzymes to customers, capitalizing on the Company's experience in commercial enzyme development and on its proven technology of "in vivo recombination".
In line with this move EUCODIS Bioscience will spin out its French research subsidiary in a management buy-in lead by Rudy Pandjaitan, PhD, previously CEO of EUCODIS Bioscience.
Dr. Pandjaitan will acquire a majority stake in the new entity. Under his leadership the new entity will develop next-generation applications of "in vivo recombination". EUCODIS Bioscience will retain a strategic share in its former subsidiary.
"White Biotechnology, or enzyme-based products and manufacturing, is a 100 billion Euro market, and EUCODIS Bioscience is well positioned to exploit the huge commercial potential of this business", said Thomas Fischer, CEO of EUCODIS Bioscience. "It was under Rudy's leadership that the Company has developed into this position, and we are pleased that he will continue to actively support EUCODIS Bioscience in the area of business development as a consultant."
"EUCODIS Bioscience' technology is a powerful and proven tool for the creation of novel enzymes", said Dr. Pandjaitan. "Even more fascinating, in vivo recombination may also be used in synthetic biology, generating DNA strands of more than 10,000 base pairs on a routine basis. It is our vision that in vivo recombination will enable the creation of novel pathways and even whole genomes, providing a key technology for the ‘cellular factory' of the future."
"In vivo recombination" is EUCODIS Bioscience' proprietary, patent-protected technology for the development of industrial enzymes with novel properties.
About EUCODIS Bioscience
EUCODIS Bioscience GmbH develops, customizes, manufactures, and markets industrial enzymes.
EUCODIS Bioscience' products help customers in the chemical, pharmaceutical, and food and feed industries to make manufacturing processes more efficient and cleaner, and to generate products with superior properties.
EUCODIS Bioscience originally focused on developing enzymes for industrial partners, including GlaxoSmithKline, Henkel, and Lohmann Animal Health. Since 2009, the Company also markets its own products.
Led by an experienced management team, EUCODIS Bioscience is backed by Austrian and German institutional venture capital funds, founders, and private investors. The Company is headquartered in Austria, Europe, with a subsidiary in Germany.
For more information, please visit www.eucodisbioscience.com
Company contact EUCODIS Bioscience:
Thomas Fischer, MBA
Campus Vienna Biocenter II
Viehmarktgasse 2 a/ 2 OG
Media contact EUCODIS Bioscience:
Investor Relations & Communications