STAMFORD, Conn., Nov. 20 /PRNewswire-FirstCall/ -- Delcath Systems, Inc. , announced today that Mr. Richard Taney was elected to the Board of Directors, bringing the total number of directors to seven, five of whom are independent.
Mr. Taney, 50, is the founding member of T2 Capital Management, LLC, an investment firm with activities in money management, private equity and investment advisory areas. Prior to establishing his money management venture, he spent 20 years advising and managing assets for high net worth clients both domestically and internationally, most recently as Managing Director of Banc of America Securities. Mr. Taney was one of the founding employees of Goldman Sachs Asset Management, a world-renowned money management firm where he served as a Director of Fixed Income Marketing from 1989 to 1991. He earned his BA from Tufts University and his JD from Temple University School of Law.
"We welcome Richard's broad financial experience and knowledge of the financial markets to the Company's Board," stated M.S. Koly, President and Chief Executive Officer of Delcath Systems. "I am confident that the addition of Messrs. Taney and Ladd, and Dr. Koplewicz in the past few months has strengthened our Board. Each of these new board members posses certain skills that will help the Company achieve its set goals and milestones. This includes our main goal, to increase awareness of our pivotal Phase III melphalan and doxorubicin clinical trials, enrolling new sites and patients in each."
Mr. Taney's appointment is in conjunction with the Board's promise to shareholders following this year's annual meeting to expand the number of new independent board members by the end of the year, as well as part of its settlement with Laddcap Value Partners. He was chosen from a pool of five candidates recommended by Laddcap, the Company's largest shareholder.
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 United States, Europe, Asia and Canada. For more information, please visit the Company's website, http://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. We undertake no obligation to publicly update or revise these forward-looking statements to reflect events or circumstances after the date they are made.
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
http://www.delcath.com/
