Change of Management at Minerva

WALTHAM, Mass.--(BUSINESS WIRE)--Minerva Biotechnologies announced today that it will be recruiting a new CEO following the board of director’s termination of its past CEO, Jim Czirr. At the same time, the Company has initiated legal proceedings against Mr. Czirr in Massachusetts Superior Court.

Minerva Biotechnologies was founded in 1999 by Dr. Cynthia Bamdad (inventor of the universal DNA chip & protein chip) to develop “next generation” biochips: affinity nanoparticles. Minerva enjoys a broad and dominant intellectual property position in the field of nanotechnology with over 100 patent applications filed with US and worldwide rights reserved. Minerva’s intellectual property covers a wide range of uses for its nanoparticle systems in fields as diverse as drug discovery, proteomics, opto-electronics and nano-scale biosensors. It has utilized its nanoparticle technology to develop protein and small molecule drugs against human tumor stem cell antigens, and is developing several novel cancer therapies for breast cancer and lung cancer.

For more information, visit www.MinervaBio.com or call (781) 487-0200 X101.