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DELCATH SYSTEMS, INC.
(Name of Registrant as Specified In Its Charter)
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Company Contact: Investor Contacts:
Delcath Systems, Inc. Todd Fromer / Garth Russell
M. S. Koly, Chief Executive Officer KCSA Worldwide
203-323-8668 (212) 896-1215 / (212) 896-1250
www.delcath.com tfromer@kcsa.com / grussell@kcsa.com
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Media Contacts:
Lewis Goldberg
KCSA Worldwide
(212) 896-1216
lgoldberg@kcsa.com FOR IMMEDIATE RELEASE
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Delcath Systems Appoints Dr. Seymour Fein as New Chief Scientific Officer
STAMFORD, Conn., August 21, 2006 -- Delcath Systems, Inc. (NASDAQ: DCTH) today
announced the appointment of Dr. Seymour Fein, M.D., to the Company's newly
created position of Chief Scientific Officer. Dr. Fein will also continue his
role as the Company's Medical Director.
Dr. Fein, who is board certified in both oncology and internal medicine, has
served as a Medical Director on Delcath's Scientific Advisory Board since 2005.
He brings to Delcath an extensive background of more than 38 years in clinical
research and as a consultant for biotechnology and medical device companies. He
has played a senior role in obtaining FDA approval for several drugs, including
those for the treatment of cancer as recombinant interferon alpha. As a medical
director for Bayer Pharmaceuticals, he was responsible for multiple therapeutic
areas including oncology, gastroenterology and cardiology. Dr. Fein also served
as Director of Clinical R&D at Anaquest/Ohmeda for almost five years, starting
its clinical research department and responsible for growing it into a
multidisciplinary team of over thirty people. Currently, Dr. Fein is President
of Fein & Associates, managing clinical development programs for drugs and
drug/device combination products in a diverse group of therapeutic areas,
including regional cancer treatments.
Dr. Fein is a graduate of the placePlaceTypeUniversity of PlaceNamePennsylvania
with a B.A. in biology. He received his M.D. degree with honors from
placePlaceNameNew York PlaceNameMedical PlaceTypeCollege. After medical school
he completed a three-year residency in internal medicine at placeCityDartmouth
followed by a three-year fellowship in medical oncology and hematology at
Harvard. During the final year of his fellowship he was appointed an instructor
of medicine at placePlaceNameHarvard PlaceNameMedical PlaceTypeSchool.
"This is an exciting time for Delcath and I am pleased to have been chosen as
the new Chief Scientific Officer in addition to my current responsibilities as
the Company's Medical Director. I look forward to working very closely with the
Company's management team and clinical trial sites as we continue to build
momentum in enrolling patients into the Doxorubicin and Melphalan trials," Dr.
Fein stated. "I believe the Delcath system shows a great deal of promise
towards being able to treat patients with liver cancer effectively. There is a
great demand for such a therapy, in which patients currently have an average
life expectancy of only six to nine months."
Dr. Samuel Herschkowitz, Delcath's Chairman of the Board, formerly Chief
Technical Officer, stated, "We are pleased that Dr. Fein has agreed to take on
the responsibility of being Delcath's Chief Scientific Officer. His extensive
medical background in successfully bringing new therapies through FDA approval
and to market will help strengthen Delcath's management team. Dr. Fein's
responsibilities will include those I had as Chief Technical Officer."
About Delcath Systems, Inc.
Delcath Systems is a developer of isolated perfusion technology for organ or
region-specific delivery of therapeutic agents. The Company's intellectual
property portfolio currently consists of 12 patents on a worldwide basis,
including the country-regionUnited States, Europe, Asia and
placecountry-regionCanada. For more information, please visit the Company's
website, www.delcath.com.
This release contains forward-looking statements, which are subject to certain
risks and uncertainties that can cause actual results to differ materially from
those described. Factors that may cause such differences include, but are not
limited to, uncertainties relating to our ability to successfully complete Phase
III clinical trials and secure regulatory approval of our current or future
drug-delivery system and uncertainties regarding our ability to obtain financial
and other resources for any research, development and commercialization
activities. These factors, and others, are discussed from time to time in our
filings with the Securities and Exchange Commission. You should not place undue
reliance on these forward-looking statements, which speak only as of the date
they are made. Delcath undertakes no obligation to publicly update or revise
these forward-looking statements to reflect events or circumstances after the
date they are made.
On August 1, 2006, Laddcap filed a preliminary consent solicitation statement
with the SEC relating to Laddcap's proposal to, among other things, remove the
current Board of Directors and replace them with Laddcap's nominees. In
response, on August 7, 2006, Delcath filed a preliminary consent revocation
statement on Form PREC14A with the SEC (the "Preliminary Consent Revocation
Statement") in opposition to Laddcap's consent solicitation. Delcath
shareholders should read the Preliminary Consent Revocation Statement (including
any amendments or supplements thereto) because it contains additional
information important to the shareholders' interests in Laddcap's consent
solicitation.
The Preliminary Consent Revocation Statement, the definitive consent revocation
materials (when filed) and other public filings made by Delcath with the SEC are
available free of charge at the SEC's website at www.sec.gov. Delcath also will
provide a copy of these materials free of charge upon request to Delcath
Systems, Inc., Attention: M. S. Koly, Chief Executive Officer, (203) 323-8668.
Delcath has engaged MacKenzie Partners, Inc., who may be deemed to be a
participant in the solicitation of Delcath shareholders, to assist in connection
with Delcath's communications with shareholders regarding Laddcap's consent
solicitation. Information regarding the interests of MacKenzie Partners, Inc. is
contained in the Preliminary Consent Revocation Statement (including any
amendments or supplements thereto). In addition, certain of Delcath's directors,
officers and employees may be deemed to be participants in the solicitation of
Delcath's shareholders. Information regarding the names and interests of these
other persons is contained in the Preliminary Consent Revocation Statement
(including any amendments or supplements thereto).
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