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Delcath to establish its European Headquarters in Galway

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04/08/11

Speciality Pharmaceutical and Medical Device Company to create jobs in marketing, sales and logistics support

As the support provided by IDA Ireland for our initial staffing plan shows, the Irish Government is also offering attractive incentives for direct business investment. We appreciate the assistance of IDA Ireland, which worked with us to establish our European subsidiary, Delcath Limited, in Galway, and look forward to working closely with them in the future.  Our recruitment efforts for initial staff at Delcath Limited have already begun, and we expect to open our Galway headquarters in the fall of this year.

Eamonn P. Hobbs, President and CEO of Delcath System, Inc.

Thursday, 4th August 2011 - Galway, Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, today announced that Delcath, a speciality pharmaceutical and medical device company, is to establish its European Headquarters in Galway. The investment is supported by the Irish Government with the aid of IDA Ireland.

The establishment of the new operation will support the company’s commercial launch of its Hepatic CHEMOSAT Delivery System in Europe.  With a broad indication for the administration of melphalan hydrochloride to the liver, the Hepatic CHEMOSAT Delivery System may ultimately fulfill an annual unmet clinical need for as many as 100,000 patients with cancers in the liver across 30 European countries. Delcath Systems Limited will create a number of jobs in the areas of marketing, sales and logistic support and recruitment of staff is currently underway with the new headquarters expected to be fully operational by the final quarter of 2011.

Announcing the decision by Delcath, Minister for Jobs, Enterprise and Innovation, Richard Bruton TD said “If we are to get out of this crisis and get jobs and the economy growing again, we must build relentlessly on our strengths. One aspect of this is our attractiveness as a location of high-value foreign direct investment and our established base of high-tech companies. We must tirelessly build on these advantages not only to attract further companies but also to achieve spin-off benefits for Irish start-ups and researchers.

“Today’s announcement that another  pharmaceutical and medical device company is locating its European headquarters in Ireland with the creation of jobs is great news for Galway and for the wider economy. I am determined to build on this so that today’s announcement can be replicated across the economy in the coming years”.

Commenting on the announcement, Eamonn P. Hobbs, President and CEO of Delcath System, Inc., said, “Galway is an excellent base for our European Union headquarters for support of the expected commercial launch of our Hepatic CHEMOSAT Delivery System in the EU later this year. The region is the European home for many international medical device and pharmaceutical companies attracted by its pro-business environment, efficient tax system, logistics and cost advantages, and deep pool of qualified management talent. As the support provided by IDA Ireland for our initial staffing plan shows, the Irish Government is also offering attractive incentives for direct business investment. We appreciate the assistance of IDA Ireland, which worked with us to establish our European subsidiary, Delcath Limited, in Galway, and look forward to working closely with them in the future.  Our recruitment efforts for initial staff at Delcath Limited have already begun, and we expect to open our Galway headquarters in the fall of this year.”

Barry O’Leary, CEO of IDA Ireland said, ‘I am delighted by Delcath’s decision to locate its European Headquarters in Galway. The Life Sciences sector is of paramount importance to Foreign Direct Investment in Ireland and the establishment of this operation adds to the Life Sciences cluster that exists in Galway. This is a welcome announcement for the West and I look forward to working closely with Delcath as it develops its Irish operations.’

About Delcath Systems

Delcath Systems, Inc. is a development stage specialty pharmaceutical and medical device company focused on oncology. Delcath’s proprietary system for chemosaturation is designed to administer high dose chemotherapy and other therapeutic agents to diseased organs or regions of the body, while controlling the systemic exposure of those agents. The Company’s initial focus is on the treatment of primary and metastatic liver cancers. In 2010, Delcath concluded a Phase III metastatic melanoma study, and the Company recently completed a multi–arm Phase II trial to treat other liver cancers. The Company received the certification required to affix the CE Mark to the Hepatic CHEMOSAT delivery system in April 2011. The Company has not yet received FDA approval for commercial sale of its system in the United States. For more information, please visit the Company’s website at www.delcath.com.

For further information

Delcath
Janine McCargo, EVC Group, +001 (0) 646 688 0425
IDA Ireland
Thomas McEvoy, Press Manager, Tel: +353 (0) 1 603 4255, Mob: +353 (0) 87 7426684
Antoinette Tyrrell, Press Officer, Tel: +353 (0) 1 603 4256, Mob: +353 (0) 87 7572053
DJEI
Conor Quinn, Press Advisor