CELSION Announces the Departure of Chief Financial Officer.COLUMBIA, Md. -- CELSION CORPORATION (AMEX AMEX See: American Stock Exchange : CLN CLN Clean CLN Community Learning Network CLN Colon CLN Celsion Corporation CLN Class Library for Numbers CLN Credit Linked Note CLN Comitato di Liberazione Nazionale (Committee of National Liberation) CLN Corn Lethal Necrosis ) today announced the departure of Anthony P. Deasey, its Chief Financial Officer, effective September 28, 2007. Paul Susie, the company's controller, will assume the position of interim Chief Accounting Officer and the responsibilities of the company's financial officer. "With the completion of our restructuring, Tony's responsibilities have been substantially reduced and as a result we have agreed that he will pursue other interests. Celsion owes a great deal to Tony for his seven years of service. Most recently, he has helped our company make the transition to an enterprise focused on and dedicated to the development and commercialization of oncology drugs," commented Michael H. Tardugno, Celsion's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "His contributions have been significant, and we wish him well in his future endeavors." "Our new focus requires that we continue to build an organization with the clinical and scientific competencies to execute our strategy, while prudently managing our cost structure," Mr. Tardugno added. "Both are critical elements of our mission to deliver high quality results and to build shareholder value." About Celsion: Celsion is dedicated to the development and commercialization of oncology drugs including tumor-targeting treatments using focused heat energy in combination with heat activated drug delivery systems. Celsion has research, license or commercialization agreements with leading institutions such as the National Institutes of Health, Duke University Medical Center, University of Hong Kong The University of Hong Kong (commonly abbreviated as HKU, pronounced as "Hong Kong U") is the oldest tertiary institution in Hong Kong. Its motto is "Sapientia et Virtus" in Latin, and " , Cleveland Clinic Cleveland Clinic (formally known as the Cleveland Clinic Foundation) is a multispecialty academic medical center located in Cleveland, Ohio, USA. Cleveland Clinic was established in 1921 by four physicians for the purpose of providing patient care, research, and medical , North Shore Long Island Jewish Health System. Additional information about Celsion Corporation can be found on the Celsion web site at www.celsion.com. Celsion wishes to inform readers that forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this release are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, unforeseen changes in the course of research and development activities and in clinical trials by others; possible acquisitions of other technologies, assets or businesses; possible actions by customers, suppliers, competitors, regulatory authorities; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission. |
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