Celsion Corporation Announces New President/CEO.Michael H. Tardugno Joins Company from Mylan Technologies, Inc COLUMBIA, Md. -- CELSION CORPORATION (AMEX AMEX See: American Stock Exchange :CLN) today announced the appointment of Michael H. Tardugno, as President and Chief Executive Officer, effective January 3, 2007. Mr. Tardugno, age 55, brings extensive pharmaceutical industry leadership experience to Celsion. He joined Mylan Laboratories, Inc (NYSE NYSE See: New York Stock Exchange :MYL) in February 2005 as Senior Vice President and General Manager of Mylan Technologies Inc, a subsidiary whose technology focuses on transdermal drug delivery systems. From 1998 to 2005 he was Executive Vice President and a founding member of management of Songbird Hearing, Inc, where he forged a number of significant agreements with major US and International partners in the development and commercialization of the world's first disposable hearing aid. Before Songbird, Michael was a Senior Vice President for ConvaTec, a division of Bristol-Myers Squibb (1996 to 1998), and Vice President of Technology Development and Manufacturing for Bausch & Lomb (1989 to 1995). Michael began his career with Abbott Laboratories holding positions in pharmaceutical operations, principally as plant manager for the company's Ross Laboratories Division nutritional business. He holds a B.S. biology/chemistry minor from St. Bonaventure University Students and alumni refer to the university with an affectionate nickname—"Bona's"—which originates from the school's original name, St. Bonaventure's College. Location The campus sits on 1,200 acres (4. and attended the Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. executive program. Dr. Max Link, Chairman of Celsion's Board of Directors said, "The addition of Michael's leadership to our strong clinical team will be invaluable to Celsion as we continue the development of ThermoDox[TM], our thermo-sensitive liposomal encapsulation of doxorubicin. His solid experience in pharmaceutical and related FDA regulated businesses will be an important asset in leading the company in its strategic growth and relations with investors, as Celsion moves towards pivotal clinical studies in primary liver and recurrent chest wall breast cancer." Mr. Tardugno commented, "I am excited to be joining Celsion at this critical stage in its development. The company has an outstanding technology platform from which a strong and growing oncology drug development company can be built. I am delighted to have the opportunity to work with Celsion's management and employees to further develop our technology and to grow the value of the firm." About Celsion: The Prolieve Thermodilatation system is a minimally invasive transurethral microwave system which combines a transurethral microwave thermotherapy device with pressure applied by a balloon catheter. Prolieve is marketed, in the United States, under an exclusive distribution agreement, with Boston Scientific Corporation. Celsion has research, license or commercialization agreements with leading institutions such as the National Institutes 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: http://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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