Healthcare Industry News: CytoCore
News Release - August 28, 2007
CytoCore Appoints Director of MarketingCytoCore Transitions From R&D Focus to Marketing-Driven Company
CHICAGO--(HSMN NewsFeed)--CytoCore (OTCBB:CYCR ), the biopharmaceutical research and medical device company for early detection and treatment of reproductive-tract cancers, today announced the initiation of Dan McMahon's activities as Director of Marketing. McMahon's extensive strategic and tactical marketing experience with such global giants as Baxter International and VIASYS Healthcare complete CytoCore's management team and infrastructure. McMahon will focus on delivering sales and revenue.
"This is a significant step in CytoCore's evolution from a research-driven organization to a marketing-driven company," said Floyd Taub, CytoCore CEO. "With a strong platform and exciting new products in our development pipeline, we are now concentrating our efforts on the commercial release of these technologies in the global marketplace to transform the early detection of uterine cancers."
McMahon started his career in sales and has served in a variety of marketing leadership roles focusing on brand and product management. McMahon's product development and launch experience includes the successful introductions of nine new device technologies that have improved the standard of care and reshaped the healthcare landscape.
"The addition of a marketing professional with strong product development and launch credentials is essential at this time," said Richard Domanik, President of CytoCore. "McMahon is an experienced professional who has launched other disruptive technologies and will play a critical role in our path forward."
"CytoCore is on the brink of launching a suite of truly innovative products that promises to raise the standard of care in women's health to a whole new level," said McMahon. "It is very exciting to participate in the energy and creative spirit that drives CytoCore's culture of innovation."
About CytoCore Inc.
CytoCore develops cost-effective cancer screening, therapeutic and delivery systems, which can be utilized in a laboratory or at the point-of-care, to assist in the early detection of cervical, endometrial, and other cancers. The InPath(TM) System is being developed to provide medical practitioners with highly accurate, low-cost, cervical and uterine cancer screening systems that can be seamlessly integrated into existing medical models. More information is available at: www.CytoCoreInc.com
Certain statements in this release are forward-looking. These statements are based on CytoCore's current expectations and involve many risks and uncertainties, such as the company's inability to obtain sufficient financing, the possibility that clinical trials will not substantiate CytoCore's expectations with respect to the InPath(TM) System, and other factors set forth in reports and documents filed by CytoCore with the Securities and Exchange Commission. Actual results may differ materially from CytoCore's current expectation depending upon a number of factors affecting the Company's business. These factors include, among others, risks and uncertainties detailed in the Company's periodic public filings with the Securities and Exchange Commission, including but not limited to the Company's Annual Report on Form 10-K for the year ended December 31, 2006. Except as expressly required by law, CytoCore undertakes no obligation to publicly update or revise any forward-looking statements contained herein.
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