CytoCore Moves into High Gear for Product Launch with New CEO.Ocana to Lead Aggressive Distribution of Reproductive Cancer Tests and Treatment CHICAGO -- Moving into an aggressive period of product launch and international distribution, CytoCore Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : CYCR) has named Dr. Augusto Ocano its new chief executive officer and driver behind the late-stage bio-scientific research company's groundbreaking line of early testing and treatment products for cervical, uterine uterine /uter·ine/ (u´ter-in) pertaining to the uterus. u·ter·ine adj. Of, relating to, or in the region of the uterus. and endometrial cancers. Following a global search, Dr. Ocana was chosen for his vast experience with the U.S. and international pharmaceutical and medical device industries. Over a 20-year career leading both start-up and mature multi-million dollar companies, Dr. Ocana has developed a special expertise in the area of market distribution, as well as in strategic partnering, financing and business development. "Because of his close relationship with major medical companies and years of cultivating industry ties, Dr. Ocana is uniquely positioned to propel our life-saving suite of reproductive cancer products into the national and international arena," said Chief Financial Officer Robert McCullough, Jr. "The fact that someone of Dr. Ocana's stature is joining our team testifies to how swiftly and completely CytoCore has turned itself around and moved into a position of financial solvency, productivity and strength going forward." Dr. Ocana's previous positions include senior vice president and managing director at CH-Werfen, S.A., a $1 billion medical research and device company. He has also served in leadership roles at major pharmaceutical corporations such as Group Taper, S.A., and Abbott Laboratories Abbott Laboratories (NYSE: ABT) is a diversified pharmaceuticals and health care company. It has over 65,000 employees and operates in 130 countries. The corporate headquarters are in Abbott Park, Illinois, a neighborhood of North Chicago, Illinois. , Inc. He has also served on the board of directors of major health care companies. Dr. Ocana's predecessor, Dr. David Weissberg, returns to his very active surgical practice. "CytoCore is extremely grateful for Dr. Weissberg's participation and efforts during the restructuring period," McCullough said. "Now that we have moved past that phase, the Company requires a 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. with the marketing background to guide the product roll-out. Dr. Ocana's experience will be key to establishing strong multi-national partherships both in the U.S. and abroad." CytoCore plans to bring to market early in 2007 its unique, FDA-approved e2Collector[TM], a small disposable balloon that replaces the spatula spatula /spat·u·la/ (spach´u-lah) [L.] 1. a wide, flat, blunt, usually flexible instrument of little thickness, used for spreading material on a smooth surface. 2. a spatulate structure. and brush currently used to collect cervical cell samples. This device is designed to improve the thoroughness and consistency of Pap smear Pap smear or Papanicolaou smear Sample of cells from the vagina and cervix of the uterus for laboratory staining and examination to detect genital herpes and early-stage cancer, especially of the cervix. Developed by the Greek-born U.S. cancer screenings performed on some 180 million women annually worldwide, while significantly improving the patient's comfort and physician's confidence in the collection procedure. The Collector represents the first significant upgrade to the Pap test Pap test, Pap smear, or Papanicolaou test (păp'ənē`kəlou), medical procedure used to detect cancer of the uterine cervix. in 50 years of use. "CytoCore is preparing to change the face of cervical cancer Cervical Cancer Definition Cervical cancer is a disease in which the cells of the cervix become abnormal and start to grow uncontrollably, forming tumors. detection for many millions of women," said Dr. Ocana. "My skill set and familiarity with international distribution networks and medical infrastructure is a perfect fit with this critical strategic mission. We plan to make CytoCore's early detection and treatment products a staple of women's health Women's Health Definition Women's health is the effect of gender on disease and health that encompasses a broad range of biological and psychosocial issues. worldwide." For further information, visit www.CytoCoreInc.com About CytoCore Inc. CytoCore develops cost-effective cancer screening systems, which can be utilized in a laboratory or at the point-of-care, to assist in the early detection of cervical, endometrial endometrial /en·do·me·tri·al/ (en?do-me´tre-il) pertaining to the endometrium. endometrial, n relating to the end-ometrium or cavity of the uterus. , and other cancers. The InPath[TM] System is being developed to provide medical practitioners with highly accurate, low-cost, cervical and uterine cancer uterine cancer Malignant tumour of the uterus. Cancers affecting the lining of the uterus (endometrium) are the most common cancers of the female reproductive tract. screening systems that can be seamlessly integrated into existing medical models. More information is available at: www.CytoCoreInc.com Dr. Gorodeski has a significant financial interest in this research consisting of equity and salary as consultant and Director of the Scientific Advisory Board of CytoCore. Dr. Gorodeski's invention licensed to CytoCore could generate royalty income for Dr. Gorodeski, for University Hospitals of Cleveland University Hospitals is a major not-for-profit medical center in Cleveland, Ohio, United States. With 150 locations throughout northeast Ohio, it encompasses a network of hospitals, outpatient centers and primary care physicians. , and for CASE University. Certain statements in this release are forward-looking. These statements are based on CytoCore's current expectations and involve many risks and uncertainties, such as the company's inability to obtain sufficient financing, the possibility that clinical trials will not substantiate CytoCore's expectations with respect to the InPath[TM] System, and other factors set forth in reports and documents filed by CytoCore with the Securities and Exchange Commission. Actual results may differ materially from CytoCore's current expectation depending upon a number of factors affecting the Company's business. These factors include, among others, risks and uncertainties detailed in the Company's periodic public filings with the Securities and Exchange Commission, including but not limited to the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2005. Except as expressly required by law, CytoCore undertakes no obligation to publicly update or revise any forward-looking statements contained herein. |
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