UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): October 14, 2008
(Exact
Name of Registrant as Specified in Charter)
|
DELCATH
SYSTEMS, INC.
|
|
(Exact
Name of Registrant as Specified in
Charter)
|
|
DELAWARE
|
001-16133
|
06-1245881
|
||
|
(State
of Incorporation)
|
(Commission
File
Number)
|
(IRS
Employer
Identification No.) |
|
600
FIFTH AVENUE, 23rd
FLOOR
NEW
YORK, NEW YORK
|
10020
|
|
|
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
Registrant's
telephone number, including area code: (212) 489-2100
Check the
appropriate box below if the Form 8−K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ]
Soliciting material pursuant to Rule 14a−12 under the Exchange Act (17 CFR
240.14a−12)
[ ]
Pre−commencement communications pursuant to Rule 14d−2(b) under the Exchange Act
(17 CFR 240.14d−2(b))
[ ]
Pre−commencement communications pursuant to Rule 13e−4(c) under the Exchange Act
(17 CFR 240.13e−4(c))
Item
5.02. Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Effective
October 14, 2008 (the “Effective Date”), the Board of Directors of Delcath
Systems, Inc. (the “Company”) elected Eamonn Hobbs as a Director. Mr.
Hobbs election was recommended by the Nominating & Governance Committee and
approved by the unanimous action of the full Board of Directors. See
Exhibit 99.1 attached hereto for biographical information about Mr.
Hobbs.
Mr. Hobbs
will receive the director fees and benefits described in the Company’s Proxy
Statement filed with the Securities and Exchange Commission on April 24,
2008. In addition, he was awarded on the Effective Date under the
Company’s 2004 Stock Incentive Plan (the “Plan”) options to purchase (i) 50,000
shares of the Company’s common stock at an exercise price per share equal to the
Fair Market Value thereof on the Effective Date determined in accordance with
the Plan, and (ii) 100,000 shares of the Company’s common stock having an
exercise price per share equal to 150% of such Fair Market
Value. There are no other material transactions between Mr. Hobbs and
the Company.
Item
9.01 Financial Statements and
Exhibits
(d) Exhibits
|
Exhibit
Number
|
Description |
|
99.1 |
Press Release |
2
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the Registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
Date: October
16, 2008
|
DELCATH
SYSTEMS, INC.
|
|||
|
By:
|
/s/
Paul M. Feinstein
|
||
|
Name:
|
Paul
M. Feinstein
|
||
|
Title:
|
Chief
Financial Officer
|
||
3
Exhibit
99.1
NEW YORK,
NY – October 15, 2008 – Delcath Systems, Inc. (Nasdaq: DCTH) today announced the
appointment of Mr. Eamonn Hobbs to Delcath’s Board of Directors. Mr.
Hobbs is President and Chief Executive Officer of AngioDynamics, Inc. (Nasdaq:
ANGO), a leading medical device company specializing in the development and
sales of medical technology serving the needs of interventional oncologists and
vascular interventionalists.
Mr.
Hobbs, a Co-Founder of AngioDynamics, built his company into a leading medical
technology company with an international market presence with a highly diverse
product line. Throughout his tenure at AngioDynamics, Mr. Hobbs has
led the Company’s efforts in marketing, strategic planning, product development,
and general management. In 2004, AngioDynamics was spun off from
E-Z-EM, Inc., a company focusing on diagnostic radiology and gastrointestinal
technologies, and of which Mr. Hobbs was the Senior Vice-President since
1988. Before his involvement with these companies, Mr. Hobbs was the
Director of Marketing and Product Development at NAMIC, Founder, President and
CEO of Hobbs Medical, Inc., and a Product Development Engineer at Cook
Incorporated.
On
joining Delcath’s Board of Directors, Mr. Hobbs commented, “This is an exciting
time for Delcath, and I am pleased to be joining the Board during this period of
growth and expansion. I am impressed with the Company’s technology,
the promising results of the Phase III Trial, and the excellent management
team. I believe that the Company is poised for significantly more
growth and success in the emerging market of minimally invasive cancer
treatments, and I look forward to leveraging my extensive experience to aid that
successful growth.”
Mr. Hobbs
continues to be highly active in the field of interventional radiology, where he
has been named an Honorary Fellow of the Society of Interventional Radiology
(“SIR”), is on the SIR Strategic Planning Committee, and is a Member of the
Society of Cardiovascular and Interventional Radiology. Mr. Hobbs is
a frequent presenter at industry and medical conferences, and sits on the Board
of Directors of the Medical Device Manufacturers Association, the Society of
Interventional Radiology Foundation, and the American College of Phlebology
Foundation.
Commenting
on today’s announcement, Richard L. Taney, President and Chief Executive Officer
of Delcath, stated, “We are delighted to have Eamonn join the Board of Directors
of Delcath. His successful leadership of AngioDynamics, his
experience within the medical device industry and his involvement in a number of
influential medical organizations make him a welcome addition to our Board of
Directors. I look forward to working with Mr. Hobbs and the entire
Board while we continue our progress in completing our clinical
trials.”
About
Delcath Systems, Inc.
Delcath
Systems, Inc. is a medical technology company specializing in cancer
treatment. The Company has developed a proprietary, patented system
which will improve the efficacy of cancer treatment while reducing the
considerable, systemic side-effects of chemotherapy. Delcath's novel
drug delivery platform is capable of delivering anti-cancer drugs at very high
doses to a specific organ or region of the body while preventing these high
doses of drug from entering the patient's bloodstream. The Company is
currently enrolling patients in Phase III and Phase II clinical studies for the
treatment of liver cancers using high doses of melphalan. The
Company's intellectual property portfolio consists of twenty-eight patents on a
worldwide basis including the U.S., Europe, Asia and Canada. For more
information, please visit the Company's website at www.delcath.com.
This
release contains express or implied forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 that are based
on the current belief of management. These statements relate to,
among other things, the results to date of our phase III clinical trials as
described above. These statements are neither promises nor
guarantees, but are subject to a variety of risks and uncertainties, many of
which are beyond
our
control, and which could cause actual results to differ materially from those
contemplated in these forward-looking statements. These risks and
uncertainties include those discussed from time to time in our filings with the
Securities and Exchange Commission, including our most recent Annual Report on
Form 10-K and subsequent Quarterly Reports on Form 10-Q. You should
not place undue reliance on these forward-looking statements, which speak only
as of the date they are made. We undertake no obligation to publicly
update or revise these forward-looking statements to reflect events or
circumstances after the date they are made.
Contact:
Company
Contact:
Delcath
Systems, Inc.
Richard
L. Taney
(212)
489-2100
rtaney@delcath.com
Investor
Relations Contact:
Strategic
Growth International, Inc.
Richard
E. Cooper
(212)
838-1444
rcooper@sgi-ir.com
Public
Relations Contact:
Rubenstein
Associates, Inc.
Robin
Wagge
(212)
843-8006
rwagge@Rubenstein.com