CYTRX CORPORATION ANNOUNCES APPOINTMENT OF PRESIDENT AND CEO OF VAXCEL, INC.
NORCROSS, Ga., July 28 /PRNewswire/ -- CytRx Corporation (NASDAQ: CYTR) announced today that appointment of Paul J. Wilson as president and CEO of its wholly owned vaccine subsidiary, Vaxcel(TM), Inc. With this appointment, Wilson will assume responsibility for the overall direction and implementation of Vaxcel's business operations. He will also serve as a member of the Vaxcel board of directors. Wilson was previously with American Cyanamid's Lederle-Praxis Biologicals Division, where he served as vice president and general manager. In other recent positions, Wilson was vice president of marketing where he had full marketing responsibility for Lederle's U.S. Pharmaceutical Business. Prior to that, he was general manager for Lederle International's Canadian Operations. During Wilson's nearly 20- year career with Lederle, he has held similar increasingly responsible positions in sales, market research, product management and commercial operations. Jack J. Luchese, CytRx's president and chief executive officer, said: "Paul's appointment is key to the successful implementation of the Vaxcel strategic business plan. He brings an excellent blend of general management and vaccine industry experience to Vaxcel at this early stage in its development. I am confident under Paul's leadership the Optivax(TM) vaccine adjuvant system, the TiterMax(R) research adjuvant and the other Vaxcel vaccine initiatives will reach their full market potential." CytRx Corporation is engaged in the research and development of critical care pharmaceutical products for the treatment of vascular and infectious diseases, burns, and cancer. Vaxcel, Inc. is developing an advanced vaccine adjuvant system for human and veterinary use. -0- 7/28/93 /CONTACT: CytRx Corporation public relations, 404-368-9500/ (CYTR)
CO: CytRx Corporation; Vaxcel, Inc. ST: Georgia IN: MTC SU: PER
RA-BN -- AT010A -- 6910 07/28/93 16:25 EDT
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|Date:||Jul 28, 1993|
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