Business Update

Celsion announces management changes and formation of Prolieve and Oncology Divisions

Published in Clinical Oncology Week, October 2nd, 2006

Celsion Corporation (CLN) announced that Lawrence Olanoff, MD, PhD, its president and chief executive officer, tendered his resignation from executive management effective October 6, 2006 to return to Forest Laboratories Inc. as president and chief operating officer.

Olanoff will continue to serve as a member of Celsion's board of directors. Anthony P. Deasey, Celsion's executive vice president, chief operating officer and chief financial officer has been named as interim chief executive officer of Celsion during the transitional period while a permanent chief executive officer is recruited. He will also be appointed to Celsion's board of directors.

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Source: Clinical Oncology Week (2006-10-02)

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