EANS-News: Epigenomics AG Announces Hand-Over of CFO Responsibility by End of Q1 2011

Geschrieben am 14-12-2010

Current CFO Oliver Schacht leaving by March 31, 2011; Experienced CFO
Successor to join April 1st, 2011

Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.

Personnel/Molecular diagnostics

Subtitle: Current CFO Oliver Schacht leaving by March 31, 2011;
Experienced CFO Successor to join April 1st, 2011

Berlin, Germany, and Seattle, WA, USA, December 14, 2010 (euro adhoc)
- Epigenomics AG (Frankfurt Prime Standard: ECX), the cancer
molecular diagnosis company, today announced the scheduled departure
of its co-founder and long-standing Chief Financial Officer (CFO) of
Epigenomics AG, Oliver Schacht PhD, effective from 31st March 2011.

In his place, the Board has recruited an experienced CFO to take
over, effective from 1st April 2011 and has taken measures to ensure
a well-planned and structured transition during Q1 2011. Due to
confidentiality obligations under the new CFO´s current public
company employment, Epigenomics expects to make the announcement of
the new CFO in the first weeks of January.

In addition Epigenomics intends to strengthen its commercial
operation in the US by recruiting an experienced US-based marketing
and sales executive to head the U.S.-based operations, currently run
by the departing CFO, and to lead the transformation of that
organization into a commercial molecular diagnostics enterprise. With
such an addition Epigenomics expects to be well-positioned to drive
its U.S. commercialization strategy following an anticipated FDA
approval of its colorectal cancer blood test.

Professor Dr. Rolf Krebs, Chairman of Epigenomics AG´s Supervisory
Board stated: "On behalf of the Supervisory Board, we thank Oliver
for his dedication, professionalism and commitment to Epigenomics.
Over the past 12 years, he has been a key member of the team during
three rounds of venture capital financing, an IPO, and a
trans-Atlantic merger with successful post- merger integration. He is
leaving at a time when the Company has been transformed into a much
leaner, more effective and efficient commercial diagnostics company.
Although we are sorry to be losing Oliver we are fully supportive of
his desire to take on a new challenge and we all wish him the best of
luck in his new endeavors."

"As a co-founder and twelve-year veteran of Epigenomics moving on to
a new role has been a tough decision to take. I have been working
closely with the team to ensure the succession planning and hand-over
to the new CFO will be as seamless as possible," said Oliver Schacht,
CFO. "I am looking forward to a new challenge as CEO of Curetis AG, a
private molecular diagnostic company that is in a different area to
Epigenomics. I wish the team of Epigenomics all the best for the

Geert Nygaard, CEO of Epigenomics commented: "Since taking over as
CEO four years ago, I have greatly enjoyed working with Oliver. He
has been instrumental in guiding the company through the transition
from a biotech start-up to becoming a commercially focused molecular
diagnostics company. We congratulate him on his new role as CEO of
Curetis." He added: "Epigenomics is in the strongest position it has
ever been since its inception. As a result, the candidates we have
attracted to take on the CFO role have been very strong. Oliver´s
successor is a highly experienced international CFO and we look
forward to giving shareholders and the market more information in the
New Year."


Contact Epigenomics AG
Dr. Achim Plum
Sen. VP Corporate Development
Epigenomics AG
Tel +49 (0) 30 24345 368

About Epigenomics

Epigenomics AG is a molecular diagnostics company with a focus on the
development of novel products for cancer. Using DNA methylation
biomarkers, Epigenomics´ tests on the market and in development for
colorectal, lung, and prostate cancer aim at aiding in an earlier and
more accurate diagnosis of these diseases, thereby potentially
increasing the patient´s chances of survival.

For development and global commercialization of IVD test products,
Epigenomics pursues a dual business strategy in which direct
commercialization of proprietary diagnostic test products is combined
with non-exclusive licensing to diagnostic industry players with
broad customer access. Strategic diagnostics industry partners
include Abbott Molecular, Sysmex Corporation, Quest Diagnostics
Incorporated, ARUP Laboratories, Inc., and Warnex Laboratories, Inc.
for diagnostics test products and services, and QIAGEN N.V. for
sample preparation solutions and research products.

The company is headquartered in Berlin, Germany, and has a wholly
owned subsidiary, Epigenomics Inc., in Seattle, WA, USA. For more
information, please visit Epigenomics´ website at

Epigenomics legal disclaimer. This communication expressly or
implicitly contains certain forward-looking statements concerning
Epigenomics AG and its business. Such statements involve certain
known and unknown risks, uncertainties and other factors which could
cause the actual results, financial condition, performance or
achievements of Epigenomics AG to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statements. Epigenomics AG is providing this
communication as of this date and does not undertake to update any
forward-looking statements contained herein as a result of new
information, future events or otherwise.

end of announcement euro adhoc

ots Originaltext: Epigenomics AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Epigenomics AG

Dr. Achim Plum

Sen. VP Corporate Development

Tel: +49 30 24345 368


Branche: Biotechnology
Index: Prime All Share, Technology All Share
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Berlin / free trade
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