Epigenomics sheds boss
26.09.2012 - The Berlin-based epigenetics specialist Epigenomics AG has changed its CEO with immediate effect.
Thomas Taapken, formerly CFO will replace his boss Geert Nygaard who will leave the company on September 30. “On behalf of the Board of Directors, I would like to thank Geert Nygaard for his dedication to the Company for the past five and half years", said Heino von Prondzynski, Epigenomics’ Chairman of the Board. Prodzynski, a former Head of Roche Diagnostics, joined the company's board in March this year. He is regarded as a renowned industry expert. Epigenomics has faced several changes in the company's business strategy in the recent years. One year ago, the Berlin-based diagnostics specialist halved its workforce to about 40 staff in the light of a corporate restructuring. Among other things, Epigenomics stopped its own marketing for the Epiprocolon blood test to detect colon cancer in Germany. The focus of the company was turned to the US market where the company runs a clinical study as the basis for a possible FDA approval. The underlying Septin9 marker was out-licensed non-exclusively to a number of partners. However, revenues from this operation do not compensate for the company's development spending. At the end of the second quarter, Epigenomics had €9.1m in cash with a loss of about €5.7m in the first half of 2012.