Healthcare Industry News: CytoCore
News Release - October 23, 2007
CytoCore Announces New CEO and COOCHICAGO--(HSMN NewsFeed)--CytoCore Inc. (OTCBB:CYCR), the biopharmaceutical research and medical device company for early detection and treatment of reproductive-tract cancers, today announced Robert McCullough Jr. as the new CEO and Richard Domanik as the new COO in a move to strengthen the Company’s executive, operational and cervical development capabilities.
Robert McCullough Jr. is appointed as Chief Executive Officer replacing Dr. Floyd Taub. McCullough has over thirty years of experience both as an operating executive in the health care field and portfolio manager focused on the healthcare sector. McCullough will continue his duties as CFO. Dr. Taub remains as a member of the Company’s Board of Directors.
Richard Domanik is assuming the role of Chief Operating Officer in addition to his responsibilities as President.
These two strategic management moves are being made as the Company prepares for its anticipated global product launch of their SoftPap cervical cell collector.
CytoCore Board member, Clint Severson, recently named Forbes “Entrepreneur of the Year” commented, “These moves are intended to provide more cohesion and focus for the management team as the Company moves into its next phase of product sales and revenues. This is an exciting time for CytoCore with the impending product launch of a revolutionary family of products focused on advancing women’s health. “
About CytoCore Inc.
CytoCore develops cost-effective cancer screening 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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