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CYTOTHERAPEUTICS ELECTS DANIEL GEFFKEN CHIEF FINANCIAL OFFICER

 PROVIDENCE, R.I., June 25 /PRNewswire/ -- CytoTherapeutics, Inc. (NASDAQ: CTII) announced the election of Daniel E. Geffken as chief financial officer. Geffken joins the company from the Andersen Group, Inc. of Bloomfield, Conn., a NASDAQ-listed, diversified holding company with its principal business in the manufacture and distribution of dental products. As Andersen Group's vice president and chief financial officer, Geffken was responsible for the financial and operational management of the multinational holding company with annual revenues of $45 million and 350 employees.
 Prior to his service at the Andersen Group, Inc., Geffken was vice president of Finance and Administration and chief financial officer for MedChem Products, Inc., a NYSE-listed manufacturer of biomedical products in Woburn, Mass. In addition, he was an investment manager for Signal Capital Corporation, where he invested in management and leveraged buyouts, including medical products companies. Geffken was also a senior manager in the High-technology Practice Group at the Boston office of KPMG Peat Marwick.
 "Mr. Geffken's expertise in the operation and financial management of biomedical technology companies will be critical to the company's efforts to raise the capital required for the development and commercialization of our products," said Thomas G. Wiggans, president and chief operating officer. "His background in leading and managing relationships with major health care companies, as well as his experience in dealing with the investment community, adds significant depth to our management team," he added.
 Geffken holds an M.B.A. degree, with a concentration in finance and entrepreneurial studies, from the Harvard Business School in Boston, and a B.S. degree in Economics from The Wharton School, University of Pennsylvania, in Philadelphia.
 CytoTherapeutics is a leader in the research and development of implantable delivery systems for biologically active and gene therapy products for the treatment of central nervous system (CNS) diseases and other chronic disorders. The company's CNS products in development include its CereCRIB(tm) implant for the treatment of severe, chronic pain, and its NeuroCRIB(tm) implant for the treatment of Parkinson's disease. CytoTherapeutics is also developing its EndoCRIB(tm) implant for the treatment of Type I diabetes.
 -0- 6/25/93
 /CONTACT: Thomas G. Wiggans, chief operating officer, 401-272-3310, ext. 2152, or Elizabeth Razee, communications coordinator, 401-272-3310, ext. 2132, both of CytoTherapeutics/
 (CTII)


CO: CytoTherapeutics, Inc. ST: Rhode Island IN: MTC SU: PER

DJ -- NE004 -- 5687 06/25/93 11:23 EDT
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Publication:PR Newswire
Date:Jun 25, 1993
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