Bio-Tech Genl Names Virgil Thompson Pres, Oper Chief
Dow Jones Newswires
ISELIN, N.J. -- Bio-Technology General Corp. (BTGC) named Virgil Thompson president and chief operating officer, succeeding Sim Fass, chairman and chief executive.
In a press release Thursday, Bio-Technology said Thompson was Cytel Corp.'s (CYTL) president and chief executive.
Bio-Technology also named Eli Admoni president of Bio-Technology General (Israel) Ltd., and senior vice president of the corporation.
Admoni is also succeeding Fass, who held both positions.
Admoni was president and chief executive of Israel Can Co.
In a separate release, Cytel said Robert Roe, a director, will act as president until until the company completes its transition to researching vaccine development.
Cytel also plans to change its name to Epimmune, one of its units.
Bio-Technology is a biopharmaceutical company.
Cytel Corp. discovers, designs and develops new drugs for the effective treatment of acute and chronic inflammatory diseases, infectious diseases and cancer. Revenues for the 9 months ended 9/98 decreased 29% to $2.8M. Net loss increased 33% to $13.8M. Revenues reflect the absense of research and development revenue from agreements with Searle, Nextran & Abbott. Higher loss reflects increased clinical trial costs.
Address: 9393 Towne Centre Drive San Diego, CA 92121
Phone: (619) 450-7100
Web Site: cytelcorp.com
Chmn.: Howard E. Greene Jr.
Pres./CEO: Virgil D. Thompson
VP-Fin./CFO: Edward C. Hall
Exec.VP/COO.: Robert L. Roe
Employees: 90
Fiscal Year: 1997
Fiscal Year Ending Date: 12/31/1997
Sales ($ millions): 5.1
1-Yr. Sales Change: -53.6%
Institutional Held: 18.6%
Number of Institutional Shareholders: 19
Ticker Symbol: CYTL
Exchange: Nasdaq
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Looks like Sim is only chairman now. Let's hope that shareholders will be rewarded down the road. Long BTGC
Jim |
