Navigation Links
CTI Seeks Strategic Alternative for Italian Facility
Date:2/6/2009

Spin-off would reduce CTI burn rate by $14 million

SEATTLE, Feb. 6 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq and MTA: CTIC) announced today that it has engaged the services of a strategic advisory consulting firm, Adjuvant Global Advisors, LLC, (Adjuvant) to assist in developing strategic options for a partnership, asset divestment or joint venture for Cell Therapeutics Europe Sede Secondaria (CTE), the preclinical drug development arm of CTI, in Bresso, Milan. The move is designed to narrow the focus of CTI's business plan, reducing its burn rate by $14 million as it also maintains the mission and workforce of the Bresso facility.

"As CTI transitions from a research-based operation to a commercial drug company, it has been transferring resources to its U.S. sales and marketing operations," said James A. Bianco, M.D., CEO of CTI. "As we have previously announced, we are refocusing our resources on late-stage and marketed products, and as such, CTI needs to reduce its preclinical operations."

Adjuvant's role will be to seek out a potential buyer or partner for the Bresso facility, with the aim of identifying organizations that want to expand with an intact and integrated preclinical team.

"Bresso is an acquisition opportunity for clinical research organizations or pharmaceutical companies to acquire a productive GLP compliant research and development asset that has a proven track record in advancing molecules from discovery to clinic," said Christina Waters, Ph.D., M.B.A., President, CTE and Systems Medicine LLC.

The Bresso personnel have worked together in oncology for many years and offer fully-integrated services ranging from Target discovery, Lead discovery and optimization, Preclinical development (non-GLP/GLP), along with preclinical activities supporting Clinical development (Phase I - Phase III, and Regulatory (EU/USA). The organization is
'/>"/>

SOURCE Cell Therapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. Universal Bioenergy, Inc. Seeks Algae Feedstock Companies for Acquisition, Alliance, and Joint Venture Opportunities for Biodiesel Production
2. Osteotechs Next Generation Grafting Material, MagniFuse(TM) Bone Graft, a Breakthrough in Bone Regeneration; MagniFuse(TM) Bone Graft seeks to redefine the standard of care in the U.S. bone graft substitute market estimated to be in excess of $1.2 billio
3. NIU Seeks OK for New Proton Cancer Treatment and Research Center
4. West Michigan Science & Technology Initiative Seeks Exhibitors for Annual Life Science Showcase
5. GBC Seeks Nominations for Regions Third Annual Bioscience Awards
6. Quest PharmaTech Announces a Review of Strategic Alternatives to Enhance Shareholder Value
7. Advanced Instruments Makes Strategic Investment in Cantimer, Inc.
8. XTL Biopharmaceuticals Provides Update on Potential Strategic Alternatives
9. London-Based Double Helix Consulting Launches US Division for Strategic Pricing, Reimbursement and Market Access Solutions
10. XTENT to Retain Investment Bank to Pursue Strategic Alternatives
11. P2R Associates Presented with Eight MarCom Awards for Client Strategic Communication Programs
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/1/2015)... MN , May 1, 2015 /PRNewswire/ - BioAmber ... producing sustainable chemicals, today announced that it has priced an ... stock at a price of $9.00 per share, and ... to purchase up to an additional 585,000 shares of ... will be $35.1 million.  The offering is expected to close ...
(Date:5/1/2015)... 1, 2015 /CNW/ - Softchoice, a leading North American IT solutions ... proud recipient of two Cisco® Partner Summit Country awards. ... Year and Security Partner of the Year for ... this week in Montreal . ... Cisco partner awards at this year,s conference," said David ...
(Date:5/1/2015)... 1, 2015 Investor-Edge has ... Ltd (NASDAQ: GENE ), Agilent Technologies Inc. ... (NYSE: TMO ), Sequenom Inc. (NASDAQ: ... ). Free research report on Genetic Technologies can ... April 30, 2015, the NASDAQ Composite ended at ...
(Date:5/1/2015)... DALLAS , May 1, 2015 ... report "Antibody Production Market by Product (Equipment, Consumables), by ... (Biopharmaceutical Companies, Diagnostic Labs, Research Institutes) - Analysis ... the report studies the global Antibody Production Market ... This market is expected to reach $2.572 Billion ...
Breaking Biology Technology:BioAmber Inc. Announces Pricing Of $35.1 Million Registered Offering 2BioAmber Inc. Announces Pricing Of $35.1 Million Registered Offering 3Softchoice recognized with two Country Awards at Cisco Partner Summit 2015 2Life Sciences Tools and Services Stocks on our Radar -- Genetic Technologies, Agilent Technologies, Thermo Fisher Scientific, Sequenom, and PerkinElmer 2Life Sciences Tools and Services Stocks on our Radar -- Genetic Technologies, Agilent Technologies, Thermo Fisher Scientific, Sequenom, and PerkinElmer 3Life Sciences Tools and Services Stocks on our Radar -- Genetic Technologies, Agilent Technologies, Thermo Fisher Scientific, Sequenom, and PerkinElmer 4Life Sciences Tools and Services Stocks on our Radar -- Genetic Technologies, Agilent Technologies, Thermo Fisher Scientific, Sequenom, and PerkinElmer 5Antibody Production Market worth $2.572 Billion by 2019 2Antibody Production Market worth $2.572 Billion by 2019 3Antibody Production Market worth $2.572 Billion by 2019 4
... Riordan Clinic scientists Dr. Nina Mikirova, Dr. ... new technology that may help doctors determine the severity ... in the January/February issue of the journal, Alternative ... Metabolism in Patients with Chronic Fatigue Syndrome by Serum ...
... 11, 2012  Ikaria, Inc., a critical care company ... critically ill patients, today announced that Joseph Stauffer, ... this role, Dr. Stauffer will be responsible for ... activities related to Ikaria,s commercialized product, INOMAX® (nitric ...
... 2012 Narayana Hrudayalaya Hospitals of India has ... of the United States to bring innovative healthcare ... Hrudayalaya Hospitals (NH) is led by Chairman and ... cardiovascular surgeon with extensive experience in providing high-quality/low-cost ...
Cached Biology Technology:Riordan Clinic Research Institute Has Developed and Patented a Process for the Assessment of the Energy Metabolism in Patients with Chronic Fatigue Syndrome 2Riordan Clinic Research Institute Has Developed and Patented a Process for the Assessment of the Energy Metabolism in Patients with Chronic Fatigue Syndrome 3Ikaria® Appoints Chief Medical Officer 2Ikaria® Appoints Chief Medical Officer 3Narayana Hrudayalaya Hospitals Teams With Ascension Health Alliance to Build Health City at Grand Cayman 2Narayana Hrudayalaya Hospitals Teams With Ascension Health Alliance to Build Health City at Grand Cayman 3Narayana Hrudayalaya Hospitals Teams With Ascension Health Alliance to Build Health City at Grand Cayman 4
(Date:4/10/2015)... DUBLIN , April 10, 2015 ... the addition of the "Security Competitive Profiles - ... (Logo: http://photos.prnewswire.com/prnh/20130307/600769) , NEC will continue to ... solutions to the market, with a company focus on ... solution anticipated. Winning opportunities in the ...
(Date:4/2/2015)... , April 2, 2015 At its ... Salt Lake City , the American College of ... five new directors to its Board.  Members of the ... ACMG and for forming and advancing its policies and ... genetics profession. "It,s an eventful time in ...
(Date:3/31/2015)... 31, 2015  Elephant Talk Communications Corp. (NYSE MKT: ... of Software Defined Network Architecture (ET Software DNA® 2.0) ... of approximately $20.4 million for the year ended December ... for the year ended December 31, 2013. ... had completed its multi-year transition away from its legacy ...
Breaking Biology News(10 mins):NEC Security Competitive Profile 2015 2American College of Medical Genetics and Genomics Announces New Board Members: Dr. Louanne Hudgins is ACMG President-Elect 2American College of Medical Genetics and Genomics Announces New Board Members: Dr. Louanne Hudgins is ACMG President-Elect 3American College of Medical Genetics and Genomics Announces New Board Members: Dr. Louanne Hudgins is ACMG President-Elect 4American College of Medical Genetics and Genomics Announces New Board Members: Dr. Louanne Hudgins is ACMG President-Elect 5American College of Medical Genetics and Genomics Announces New Board Members: Dr. Louanne Hudgins is ACMG President-Elect 6American College of Medical Genetics and Genomics Announces New Board Members: Dr. Louanne Hudgins is ACMG President-Elect 7American College of Medical Genetics and Genomics Announces New Board Members: Dr. Louanne Hudgins is ACMG President-Elect 8Elephant Talk Reports 2014 Fourth Quarter and Year End Financial Results 2Elephant Talk Reports 2014 Fourth Quarter and Year End Financial Results 3Elephant Talk Reports 2014 Fourth Quarter and Year End Financial Results 4Elephant Talk Reports 2014 Fourth Quarter and Year End Financial Results 5Elephant Talk Reports 2014 Fourth Quarter and Year End Financial Results 6
... studying the reliability of species distribution models for ... have focused their research on the endangered marsupial, ... Ecography demonstrates that studying weather events, rather ... a clearer insight into the Bettong,s movements, range ...
... BRUNSWICK, N.J. The National Institutes of Health (NIH) ... quick and economical analysis of tissue from breast cancer ... a common form of breast cancer is likely to ... minimize side effects. The NIH made its grant ...
... Large, persistent populations of genetically engineered canola ... North Dakota. As genetically engineered crops become increasingly ... potential ecological side effects. A study published ... reports that genetically engineered canola endowed with ...
Cached Biology News:Australia's endangered bettong reveals how weather effects species distribution 2Rutgers-affiliated company receives funding for technology to help choose breast cancer treatments 2Rutgers-affiliated company receives funding for technology to help choose breast cancer treatments 3
Normal serum collected from healthy Kunming mice....
Request Info...
QML offers standard and customized paraffin embedded tissue blocks....
Use our experts and resources to develop reagent systems for your applications....
Biology Products: