Ghent, Belgium, September 25, 2006 - Devgen (Euronext Brussels: DEVG) announces today that Dr. Pol Bamelis has been appointed member of the board on September 22nd.
Dr. Bamelis obtained a PhD in chemistry from Katholieke Universiteit Leuven (Belgium) and started his career with Bayer AG Leverkusen. He retired from Bayer in 2001, after 36 years with the company, including 10 years as a Board member with responsibilities for Agro and Pharma R&D. Dr. Bamelis was one of the main architects of Bayer's biotechnology strategy and was closely involved in the company's biotech collaborations.
From 2002, Dr. Bamelis was chairman of CropDesign in Ghent till mid-2006 when CropDesign was successfully acquired by BASF. Pol Bamelis was also chairman of the Agfa Gevaert group from 2002 to 2005. He is also board member of Innogenetics NV, Medigene AG and Bekaert NV, amongst other board mandates.
Dr. Bamelis brings substantial agrobiotech, agrochemical and pharma experience to Devgen's board. Pol Bamelis comments: "I accepted the proposal of Devgen to join their board, because I strongly believe that this company has the capability to become one of the important players on the biotech scene."
At the same occasion, Dr Stephen Bunting, managing director of Abingworth, and Mr Denis Biju Duval, Head of Private Equity ING Belgium, announced that they would step down from the board. Dr Bunting has been on Devgen's board since the company's inception in 1997 and was chairman of the board during the first three years. Mr Denis Biju Duval has represented ING on Devgen's board since 2003.
Pierre Hochuli, chairman of the board of Devgen concludes: "We are grateful to Dr. Bunting and Mr. Biju-Duval for their contribution to Devgen. They both were instrumental in guiding Devgen through its early stages. The Board is pleased and honoured to welcome Dr. Bamelis to Devgen's Board. These changes in the board composition are in line with the transition of Devgen's governance from a private to a public company".
About Devgen Devgen is an innovator in biotechnology focused on discovering, developing and commercializing: - a novel generation of biotech products to protect a wide spectrum of crops from damage incurred from pests; - safer and more environmentally friendly agro-chemical products to protect crops from damage inflicted by plant parasitic nematodes; - novel therapeutic concepts and preclinical drug candidates for treatment of metabolic disease (diabetes, obesity, arrhythmia) and inflammation.
Each of these solutions is developed on a platform of in-house designed research, development programs and technologies. Devgen has partnerships with industry leaders in biotechnology and agro chemistry. Incorporated in 1997, Devgen has offices in Ghent (Belgium) and Singapore, with a total work force of over 100 people.
For more information, please contact: Hilde Windels, Investor relations +32 9 324 24 24 Hilde.email@example.com
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