BioCentury
ARTICLE | Company News

Former Micromet CEO to lead Cytos

October 10, 2012 1:18 AM UTC

Cytos Biotechnology AG (SIX:CYTN) hired Christian Itin as CEO. Itin was previously president and CEO of Micromet Inc., which Amgen Inc. (NASDAQ:AMGN) acquired in March. Cytos' board plans to elect Itin as chairman at a shareholders meeting in November. Itin would succeed Chairman Thomas Hecht, who has served in an executive role since CEO Wolfgang Renner resigned last year as part of Cytos' restructuring. At the time, Cytos suspended all R&D programs except for CYT003-QbG10, for which a Phase IIb trial in allergic asthma is slated to start by year end. The product is a virus-like particle (VLP) containing an oligonucleotide agonist of toll-like receptor 9 (TLR9) to treat allergic asthma. Cytos was up CHF0.04 to CHF2.58 on Tuesday. ...