Schlieren (Zurich), Switzerland, January 8, 2016 – Cytos Biotechnology Ltd ("Cytos" or the "Company" – to be renamed Kuros Biosciences Ltd.), announced today that the Board of Directors has constituted itself with Dr. Christian Itin stepping down as CEO but remaining as Chairman of the Board and Mr. Dominik Ellenrieder being appointed as the Vice Chairman of the Board. Further, the newly constituted Board elected Didier Cowling as Chief Executive Officer, Dr. Alistair Irvine as Chief Business Officer, Dr. Jason Schense as Chief Technology Officer and confirmed Harry Welten as the Chief Financial Officer. All appointments are effective upon closing of the acquisition of Kuros Biosurgery Holding AG which is expected to take place within the next few weeks.
"Yesterday, Cytos has received overwhelming support by our shareholders for the acquisition of Kuros Biosurgery Ltd. With the closing of the transaction most existing members of the Board will step down and new members of the Board of Directors have been elected. I would like to thank the outgoing Board members for their continued support and welcome the new members of the board and executive management", commented Christian Itin, Chairman of Cytos. "We are pleased that Harry Welten will continue as Chief Financial Officer and are looking forward to forming Kuros Biosciences".