Tuesday, 21 December 2010

Changes in CEVEC’s supervisory board

CEVEC Pharmaceuticals, the developer of the CAP protein expression system derived from human amniocytes, today announced that Rainer Christine has joined its supervisory board.

Rainer Christine was the CEO and co-founder of the German-American biotools company amaxa and plays an active role in the life sciences related venture capital industry. Under Rainer’s leadership amaxa grew from start-up in 1998 to a full-fledged and profitable life science company with strong scientific and commercial activities, 160 staff in Europe and the US, and more than EUR 100 million in cumulative sales. In 2008, amaxa was successfully sold to Lonza, a global supplier to the life-science industry.

At the same time, Gangolf Ehlen, previous Chairman of CEVEC’s supervisory board and lead investor from Venture Capital Beteiligungen Sparkasse KölnBonn, will resign from the CEVEC board to pursue a new role at Sparkasse KölnBonn. New chairman of the board will be the current vice-chairman Karlheinz Schmelig, Managing Partner at current lead investor Creathor Venture.

"CEVEC is delighted to have secured the services of Rainer Christine. With his experience and recognition as a high-profile Life Sciences entrepreneur he joins as a very valuable addition to our board," stated Rainer Lichtenberger, Managing Director / CEO of CEVEC . Wolfgang Kintzel, Managing Director/CCO added: "We are also extremely grateful to Gangolf Ehlen for his outstanding commitment for CEVEC over the last years and wish him all the best for his new assignment at Sparkasse KölnBonn."

The CEVEC supervisory board changes are accompanied by the successful first closing of a further financing round to expand CEVECs vaccine platform business.

CAP cells are a human immortalized cell line derived from primary human amniocytes. CAP cells grow in serum-free suspension cultures, allow for stable protein production and show human-like post-translational modifications including authentic human glycosylation patterns.

CEVEC Pharmaceuticals GmbH