Celsion Announces Resignation of Executive Vice President Daniel S. Reale.Business Editors/Health/Medical Writers COLUMBIA, Md.--(BUSINESS WIRE)--Feb. 23, 2004 CELSION CORPORATION (AMEX AMEX See: American Stock Exchange :CLN) today announced the resignation of Executive Vice President, Daniel S. Reale. Reale, who spearheaded the recent FDA approval of Celsion's Prolieve(TM) Thermodilatation BPH treatment system, is resigning to focus his attention on a personal situation. Dr. Augustine Cheung, Celsion's Chief Executive Officer, said, "We are very sorry to lose Dan's services. During his three years with Celsion, he was the driving force in completing the BPH clinical trials, obtaining FDA approval for the Prolieve product and developing our strategic relationship with Boston Scientific Corporation. We respect his need to deal with his personal situation and extend both our thanks and that of our shareholders for all of his contributions to Celsion during his tenure. We wish him only the best for the future." About Celsion: Celsion Corporation, based in Columbia, Maryland, is a biotechnology company dedicated to the development and commercialization of treatment systems for cancer and other diseases using focused-heat energy, either administered alone, or in combination with other therapeutic devices, heat activated genes and heat activated drugs. In January 2003, Celsion entered into a strategic alliance with Boston Scientific Corporation (NYSE NYSE See: New York Stock Exchange :BSX) in which Boston Scientific will initially distribute the Prolieve Thermodilatation system worldwide. Boston Scientific currently owns approximately 6% of Celsion's outstanding stock. Celsion has research, license or commercialization agreements with leading institutions such as the National Institute of Health, Duke University Medical Center, Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, , Harbor UCLA Medical Center UCLA Medical Center is a hospital located on the campus of the University of California, Los Angeles in Los Angeles, California. It is rated as one of the top three hospitals in the United States and is the top hospital on the West Coast according to US News & World Report. , Montefiore Medical Center Montefiore Medical Center, in the Bronx, New York, is the university hospital of the Albert Einstein College of Medicine. The hospital, named after Moses Montefiore, is one of the 50 largest employers in New York State [1]. and Memorial Sloan-Kettering Cancer Center The Memorial Sloan-Kettering Cancer Center (MSKCC) in New York City is a cancer treatment and research institution founded in 1884 as the New York Cancer Hospital. The main campus is located at 1275 York Avenue, between 67th and 68th Streets, with other locations in New in New York City, Roswell Park Cancer Institute The Roswell Park Cancer Institute is a cancer research and treatment center located in Buffalo, New York. Founded in 1898 by Dr. Roswell Park, it was the first dedicated medical facility for cancer treatment and research in the United States. in Buffalo, New York, and Duke University. For more information on Celsion, visit our website: www.celsion.com. Celsion wishes to inform readers that forward-looking statements in this release are made pursuant to the "safe harbor" 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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