Berlin, Germany and Seattle, WA, U.S.A., March 16, 2012 – Epigenomics AG (Frankfurt Prime Standard: ECX), the German-American cancer molecular diagnostics company, announced today that it was decided to propose to the shareholders of the company at its upcoming Annual General Meeting (AGM) on May 2, 2012 to vote in favor of a reduction of the size of the Supervisory Board from currently six to three members. Furthermore, the company’s Chairman, Prof. Dr. Dr. h.c. Rolf Krebs, announced that for personal reasons he will not stand for re-election at the upcoming Annual General Meeting.
Prof. Dr. Rolf Krebs (72) has been a member of the Supervisory Board of Epigenomics AG since 2000 and its Chairman since 2003. During this period, the company has evolved from a privately held start-up research company to a publicly listed, worldwide commercial leader in the field of blood based products for the early detection of cancer.
The Supervisory Board has further resolved to propose Mr. Heino von Prondzynski for election to the Supervisory Board by the Annual General Meeting. Mr. von Prondzynski has indicated his willingness to accept the role as Chairman of the Supervisory Board in case of his election.
Heino von Prondzynski (62) is an internationally recognized expert and accomplished business leader in the field of molecular diagnostics with an extensive network of contacts in the US, Asia and Europe. Among other career accomplishments, he has been CEO of the diagnostics division of F. Hoffmann-La Roche Ltd., Basel, Switzerland and a member of the corporate executive committee of Roche. He is intimately acquainted with the company, having been a member of the Supervisory Board of Epigenomics from May 2007 until March 2010.
Prof. Dr. Rolf Krebs said: “I have made a decision not to stand for re-election at the next Annual General Meeting after careful deliberation. Heino von Prondzynski represents an excellent and very committed candidate who is eager to take the responsibility as Chairman at a decisive point in the company’s history. I certainly will keep following the developments at Epigenomics closely, knowing that the company has taken several critical steps to move into the right direction. I am very proud of the accomplishments the company has made thus far and believe it is the right time to set a clear signal for a change. I will do my utmost to ensure a smooth transition going forward. I wish success to Epigenomics and to my successor.”
The proposed changes to the Supervisory Board structure and composition have been thoroughly planned and were made in line with last year’s decision to reinforce the focus of the company’s operations on the key US market. Heino von Prondzynski has indicated his intention to work closely with the management team to diligently explore all viable strategic options for the company in its further development, including but not limited to the possibility of securing additional financial resources to support the company’s operations beyond the current cash reach. A main operational goal of the company remains to gain approval for and subsequently introduce Septin9 based colorectal cancer screening tests in the US market.
“Subject to my election at the upcoming Annual General Meeting on May 2, 2012, I look forward to becoming a member of the Supervisory Board of Epigenomics once again”, noted Heino von Prondzynski. “From my previous affiliation as a Supervisory Board member I know the company very well and have closely followed its development with great interest. Together with my colleagues in the Supervisory Board and the management of Epigenomics we will intensify our efforts to successfully commercialize the company’s products in the best interest of our shareholders.”
Geert W. Nygaard, CEO of Epigenomics AG said: „I fully understand and respect the decision of Prof. Dr. Rolf Krebs to not seek re-election for personal reasons. Prof. Krebs has been instrumental in leading the transformation of the company over the last years into a molecular diagnostics company and has done so with great commitment. On behalf of the management and employees of Epigenomics we wish to thank Prof. Dr. Krebs as well as Prof. Dr. Bicker, Mr. Anderson, Ph.D. and Mr. Frankenne for the trustful collaboration over the last many years. With Heino von Prondzynski we have found a very experienced successor for the Chairmanship of the Supervisory Board. I know Heino von Prondzynski well and look forward to the renewed and very intensive collaboration in his new role as Chairman of the Supervisory Board. Given his vast experience and leadership skills I am certain we will successfully master the challenges ahead of Epigenomics.”
In addition to Mr. von Prondzynski, current members of the Supervisory Board, Ms. Kessler, Ph.D. and Prof. Dr. Reiter, will be seeking election at the upcoming Annual General Meeting.
The invitation to the AGM of Epigenomics AG on May 2, 2012 will be published on Friday, March 23, 2012 on the website of Epigenomics AG and in the electronic federal gazette.
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Epigenomics (www.epigenomics.com) is a molecular diagnostics company developing and commercializing a pipeline of proprietary products for cancer. The Company’s products enable doctors to diagnose cancer earlier and more accurately, leading to improved outcomes for patients. Epigenomics’ lead product, Epi proColon®, is a blood-based test for the early detection of colorectal cancer, which is currently marketed in Europe and is in development for the U.S.A. The Company’s technology and products have been validated through multiple partnerships with leading global diagnostic companies including Abbott, QIAGEN, Sysmex, and Quest Diagnostics. Epigenomics is an international company with operations in Europe and the U.S.A.
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