GPC Biotech Appoints Torsten Hombeck as Chief Financial Officer
Martinsried/Munich (Germany) and Princeton, N.J., December 4, 2007 â€“ GPC Biotech AG (Frankfurt Stock Exchange: GPC; TecDAX index; NASDAQ: GPCB) today announced the appointment of Torsten Hombeck, Ph.D., to Chief Financial Officer.Â Dr. Hombeck will assume his duties on January 1, 2008.Â Dr. Hombeck will replace Mirko Scherer, Ph.D., who is resigning from the Company, effective immediately, to pursue other interests.Â Dr. Scherer will remain a consultant to GPC Biotech.
Bernd R. Seizinger, M.D., Ph.D., Chief Executive Officer, said:Â â€œI would like to express my heartfelt appreciation to Dr. Scherer, who has worked tirelessly to build and grow GPC Biotech since he helped to found the Company ten years ago.Â Dr. Scherer has played a key role in keeping the Company well financed, which is critically important for a biotech company.Â All of us at GPC Biotech warmly wish Mirko the best in his future pursuits, and I am grateful that we may continue to draw on his expertise.â€
Dr. Seizinger continued:Â â€œI am delighted that Dr. Hombeck has agreed to become our new Chief Financial Officer.Â He has been with GPC Biotech for over eight years. Dr. Hombeck has played an integral role in our financings, including IPOs on both the Frankfurt Stock Exchange and on NASDAQ.Â He was also intimately involved in our two previous M&A transactions with Mitotix, Inc. in the U.S. and with Axxima Pharmaceuticals in Germany.Â In addition, he has been instrumental in building our Finance department and ensuring that we meet the many reporting obligations of a dual-listed corporation.Â His experience, knowledge of the Company, and the relationships and trust he has built internally and externally will be great assets as we move the Company forward, including our heightened focus on M&A activities.â€
Torsten Hombeck, Ph.D., joined GPC Biotech in 1999.Â Dr. Hombeck has worked out of the Companyâ€™s U.S. offices as Vice President, Finance since 2002, and he will continue to be based in Princeton, New Jersey.Â Prior to joining GPC Biotech, he held positions in corporate finance and controlling, including financial oversight responsibility for South America, at Beiersdorf AG, an international branded consumer products company.Â Dr. Hombeck holds a Masters degree in business administration as well as a Ph.D. in Finance from the European Business School, Oestrich-Winkel, Germany.
About GPC Biotech
GPC Biotech AG is a publicly traded biopharmaceutical company with a mission to discover, develop and commercialize new anticancer drugs. GPC Biotech's lead product candidate is satraplatin, an oral platinum compound.Â The Company has various anti-cancer programs in research and development that leverage its expertise in kinase inhibitors. GPC Biotech AG is headquartered in Martinsried/Munich (Germany) and has a wholly owned U.S. subsidiary headquartered in Princeton, New Jersey. For additional information, please visit GPC Biotech's Web site at www.gpc-biotech.com.
This press release contains forward-looking statements, which express the current beliefs and expectations of the management of GPC Biotech, including financial projections and forecasts relating to our operations and financial situation.Â Such statements are based on current expectations and are subject to risks and uncertainties, many of which are beyond our control, that could cause future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially depending on a number of factors, and we caution investors not to place undue reliance on the forward-looking statements contained in this press releaseÂ We direct you to GPC Biotechâ€™s Annual Report on Form 20-F for the fiscal year ended December 31, 2006 and other reports filed with the U.S. Securities and Exchange Commission for additional details on the important factors that may affect the future results, performance and achievements of GPC Biotech. Forward-looking statements speak only as of the date on which they are made and GPC Biotech undertakes no obligation to update these forward-looking statements, even if new information becomes available in the future.