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NEW YORK, Dec. 17 - Cytogen today said it has tapped AxCell chief Michael Becker to replace Joseph Reiser, who stepped down as president and CEO "for personal reasons" this afternoon.
Additionally, Lawrence Hoffman has quit as vice president and CFO, and Thu Dang, Cytogen's director of finance and 14-year veteran of the company, has been promoted to VP of finance.
It was not immediately clear whether Becker's ascension will affect AxCell, or if he will run both firms.
"As we look ahead to the next phase in Cytogen's evolution, I believe it is appropriate that Michael take on an expanded role as CEO," said Reiser, who will stay on as a board member.
Beside running AxCell, Becker was VP of business development and investor relations at Cytogen, where he has now been named to the board.