Delcath Systems, Inc. Appoints David McDonald Chief Financial Officer
September 14 2009 - 6:30AM
PR Newswire (US)
-- New CFO to Spearhead Business Development and Strategic Alliance
Initiatives -- NEW YORK, Sept. 14 /PRNewswire-FirstCall/ -- Delcath
Systems, Inc. (NASDAQ:DCTH), a medical technology company testing
its proprietary treatment method for primary and metastatic cancers
to the liver, announced that it has appointed David Alan McDonald
Chief Financial Officer of the Company, effective today. McDonald,
49, was formerly the Senior Vice President of Business Development
at AngioDynamics, Inc. (NASDAQ:ANGO) where he led the firm's
business development activities. "David brings a broad base of
business knowledge to Delcath," said Eamonn Hobbs, President and
CEO of the Company. "He has an extensive financial and business
development background and understands the dynamics of
commercializing new technologies, international licensing,
marketing and strategic development. We are excited to have David
onboard. He will be an asset to our team as it prepares for FDA
submission by mid-2010, gains CE Mark approval and pursues
strategic relationships with outside parties." The CFO role at
Delcath had been vacant since December 2008, when the previous CFO
resigned to pursue other interests. McDonald founded
Minneapolis-based Cornerstone Healthcare Advisors LLC in April
2005, which he led until joining AngioDynamics in July 2008. At
Cornerstone he provided advisory and consulting services to
emerging medical technology companies and their financial sponsors.
Prior to 2005, McDonald was a Managing Director and leader of
Medical Technology Investment Banking at RBC Capital Markets where
he developed senior and Board level relationships with leading
private, public and venture capital firms in the medical device and
diagnostics industries. While at RBC and Cornerstone, Mr. McDonald
advised on more than 50 banking deals. Before his involvement with
these companies, Mr. McDonald was a Senior Vice President and
Equity Portfolio Manager at Investment Advisers, Inc. as well as a
research analyst covering the healthcare industry for more than a
dozen years. He received a Bachelor of Arts Degree in Economics
from St. Olaf College in Northfield, Minnesota in 1982 About
Delcath Systems, Inc. Delcath Systems, Inc. is a medical device
company specializing in cancer treatment. The Company is testing a
proprietary, patented drug delivery system for the treatment of
liver cancers. Delcath's novel drug delivery platform is testing
the delivery of ultra-high doses of anti-cancer drugs to the liver
while preventing these high doses of drug from entering the
patient's bloodstream. The Company is currently enrolling patients
in Phase III and Phase II clinical studies for the treatment of
liver cancers using high doses of melphalan. The Company's
intellectual property portfolio consists of twenty-seven patents on
a worldwide basis including the U.S., Europe, Asia and Canada. For
more information, please visit the Company's website at
http://www.delcath.com/. The Private Securities Litigation Reform
Act of 1995 provides a safe harbor for forward-looking statements
made by the Company or on its behalf. This news 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. DATASOURCE: Delcath Systems, Inc.
CONTACT: Investors, Doug Sherk/Stacey Fisher/Mike Pollack,
+1-415-896-6820, or Media, Steve DiMattia, +1-646-201-5445, all of
EVC Group for Delcath Systems, Inc. Web Site:
http://www.delcath.com/
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