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Executive Summary

CYTOGEN PRESIDENT/CEO IS EX-SMITHKLINE PRESIDENT EBRIGHT, who will officially assume his new duties at the New Jersey biotech firm on April 1. George Ebright, 50, will be on the job at the biotech firm a little more than a month following his resignation from SmithKline ("The Pink Sheet" Jan. 30, T&G-2). Ebright brings experience in the diagnositics industry to his new job. A veteran of 26 years with SmithKline, he was executive vice president of the company's diagnostic and analytical products businesses from 1984 to 1986. During that time, Ebright was in charge of revamping Beckman Instruments as well as expanding the clinical labs business. Ebright is also a member of the Halth Industry Manufacturers Association. Ebright takes over the duties which had been held on an interim basis by Cytogen founder and Chairman Robert Johnston. Johnston had been acting president since July 1988, when former president and CEO Ronald Brenner resigned. Commenting on his appointment in a Feb. 21 press release, Ebright stated: "I am impressed by the breadth of the company's technology and the progress the Cytogen team has made. From this, I am convinced, a substantial health care business will be built." Cytogen's OncoScint cancer imaging agent is in Phase III studies and its therapeutic radioisotope product, OncoRad, is entering Phase I testing. The company develops delivery systems for diagnostic and therapeutic agents by linking them to monoclonal antibodies. Via an agreement with Kodak, Cytogen has six cancer imaging compounds in clinical development ("The Pink Sheet" Nov. 28, T&G-7). Cytogen also has a development agreement with Lederle for methotrexate in targeted delivery formulations. Ebright joins a growing number of SmithKline alumni in senior positions with research/start up firms: Cambridge NeuroSciences, for example, is headed by Alan Dalby; and Vestar is headed by Roger Crossley.

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