NEW YORK, NY--(Marketwire - August 18, 2011) - Cadus Corporation (OTCBB: KDUS) announced today that Russell Glass has decided to resign from the board of directors of Cadus effective immediately in order to focus on his investment activities and outside business commitments. The board expresses its appreciation for the many contributions Mr. Glass has made to Cadus over the years and noted that Mr. Glass expressed his pleasure at having served as a director of Cadus for many years.
This press release may contain forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in the company's annual report on Form 10-K for the year ended December 31, 2010. These include risks and uncertainties relating to the company's ability to license its technologies to third parties, the company's capital needs and uncertainty of future funding, the company's history of operating losses, the unpredictability of patent protection and the risk of obsolescence of the company's technologies.