Navigation Links
Cell Therapeutics Closes Italian Facility, Reduces Headcount and Expects to Cut $14 Million in Operating Expenses
Date:5/15/2009

Reaches severance agreement with unions

SEATTLE, May 15 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq and MTA: CTIC) announced today that, as previously discussed in a press release on February 27, 2009, it is closing its Bresso, Italy operations and has reached agreement with the employee union on a severance package. The agreement relates to a reduction of CTI's total headcount in Italy by 56 positions in the immediate months, and is expected to save CTI approximately $14 million in annual operating expenses moving forward. The Bresso facility was used for pre-clinical research and was underutilized due to CTI's focused business model on late stage development and commercialization.

CTI will continue to assist in searching for career opportunities for the Bresso employees. CTI also continues to support the employee's efforts to establish a local management buy-out for the facility but the closure of the facility and operations will start May 18, 2009.

About Cell Therapeutics, Inc.

Headquartered in Seattle, CTI is a biopharmaceutical company committed to developing an integrated portfolio of oncology products aimed at making cancer more treatable. For additional information, please visit www.CellTherapeutics.com.

Sign up for email alerts and get RSS feeds at our Web site, http://www.CellTherapeutics.com/investors_news.htm

This press release includes forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results. Specifically, the risks and uncertainties that could affect the development of products '/>"/>

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

Page: 1 2

Related biology technology :

1. Vicus Therapeutics to Present at the 234th American Chemical Society National Meeting in Boston, MA
2. DJO Incorporateds Pending Merger With ReAble Therapeutics Clears U.S. Antitrust Review
3. PeriCor Therapeutics Announces Closing of Licensing Agreement for Acadesine with Schering-Plough Corporation
4. Systems Medicine (SM), a Subsidiary of Cell Therapeutics, Inc. (CTI), Announces Execution of CRADA with NCI/NIH to Develop Potential Cancer Treatments Targeting the Insulin Growth Factor (IGF) Pathway
5. Amsterdam Molecular Therapeutics to Release H1 2007 Results on August 29, 2007
6. Nektar Therapeutics Appoints Tim Harkness as Chief Financial Officer
7. ExonHit Therapeutics: Allergan and ExonHits First Collaboration Compound to Begin Human Clinical Trials
8. Cell Therapeutics, Inc. Takes Corrective Actions in Response to Nasdaq Determination
9. Amsterdam Molecular Therapeutics Reports Half Year Results 2007
10. Nektar Therapeutics Appoints Lutz Lingnau as New Board Member
11. Anesiva Grants Specific-Use License of Its Needle-Free Drug Delivery Technology to Particle Therapeutics for Diabetes Drug
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/22/2014)... , Dec. 22, 2014 GenomeDx Biosciences today ... Prostate Cancer Classifier, a genomic test for prostate cancer, ... high-risk men managed by radical prostatectomy without adjuvant therapy. ... is relatively uncommon, using tumor genomics to identify these ... disease is an important advance. The study has been ...
(Date:12/22/2014)... Chicago, Illinois (PRWEB) December 22, 2014 ... representing tenants and occupiers of commercial real estate, has ... two new offices in Perth and Brisbane, Western Australia, ... board of directors. , ITRA Global / ACORPP ... and totally independent consultancy company providing property services to ...
(Date:12/19/2014)... Charm Sciences is pleased to announce that ... Aflatoxin M1 in raw commingled milk is the first ... The peer reviewed report of the validation by Technology ... and Fisheries Research (ILVO-T&V) has been published by the ... most toxic aflatoxin and a known carcinogen, can be ...
(Date:12/19/2014)... 19, 2014  Roche (SIX: RO, ROG; OTCQX: RHHBY) ... (Bina), a privately held company based in ... provides a big data platform for centralized management ... Bina,s proprietary on-market Genomic Management Solution, Bina-GMS 1 ... perform fast and scalable analyses to maximize the ...
Breaking Biology Technology:Study Published in European Urology Shows that the Decipher Prostate Cancer Classifier is Predictive of Rapid Metastasis in High-Risk Men who have had Prostate Surgery 2Study Published in European Urology Shows that the Decipher Prostate Cancer Classifier is Predictive of Rapid Metastasis in High-Risk Men who have had Prostate Surgery 3ITRA Global Continues International Expansion in Perth and Brisbane, Australia 2Charm Sciences Achieves Independent Validation of First 15 Minute Quantitative Screening Method for Aflatoxin M1 2Roche acquires Bina Technologies and enters the genomic informatics market 2Roche acquires Bina Technologies and enters the genomic informatics market 3
... Boehringer Ingelheim today,announced that the company ... as the,world,s most respected biopharmaceutical employer. Science,s ... polls employees in the biotechnology,biopharmaceutical, pharmaceutical, and ... asked to rate companies based on 23 ...
... featured in oral presentation ... TSX Exchange Symbol: ... is pleased to announce that tomorrow it is making,an oral ... at the International Atherosclerosis Society (IAS),Workshop on HDL. The presentation ...
... New sol-gel inks developed by researchers at the University ... three-dimensional structures of metal oxides with nanoscale features. , ... nanoscale opens a new avenue to functional devices. Potential ... The researchers describe the new inks in a paper ...
Cached Biology Technology:Boehringer Ingelheim Receives Top Honor as World's Most Respected Biopharmaceutical Employer in Science 2007 Top Employers Survey 2Boehringer Ingelheim Receives Top Honor as World's Most Respected Biopharmaceutical Employer in Science 2007 Top Employers Survey 3Resverlogix is Presenting at IAS HDL Workshop 2Sol-gel inks produce complex shapes with nanoscale features 2
(Date:12/10/2014)... 9, 2014     ...   Jifflenow, a ... solutions for business-to-business (B2B) events, today announced a ... mobile near-field communication (NFC), Bluetooth low energy (BLE), ... http://photos.prnewswire.com/prnh/20140612/691055) , Jifflenow will integrate its ...
(Date:12/5/2014)... , Dec. 4, 2014  Tute Genomics, a leader ... million in Series A1 funding led by UK-based Eurovestech. ... participated in the investment round. "We are ... community adopts next-generation sequencing and seeks new approaches for ... Reid Robison , MD MBA, and CEO of Tute ...
(Date:12/3/2014)... , Dec. 2, 2014   Marvin Test ... innovative test solutions for military, aerospace, and manufacturing ... of its successful TS-900 PXI semiconductor test ... features of high-end systems to customers at a ... compared to traditional ATE. "Our ...
Breaking Biology News(10 mins):Jifflenow And ITN International Bring Cutting-Edge Badge Scanning Technology To B2B Events 2Jifflenow And ITN International Bring Cutting-Edge Badge Scanning Technology To B2B Events 3Tute Genomics Raises $2.3 Million to Scale Up Cloud-Based Genome Analytics and Accelerate Personalized Medicine 2Tute Genomics Raises $2.3 Million to Scale Up Cloud-Based Genome Analytics and Accelerate Personalized Medicine 3Marvin Test Solutions Brings New Capabilities to PXI-Based Semiconductor Test with TS-960 2Marvin Test Solutions Brings New Capabilities to PXI-Based Semiconductor Test with TS-960 3
... Orleans, LA Research led by Wayne L. Backes, PhD, ... Health Sciences Center New Orleans School of Medicine, has found ... present in an individual, but also how they interact, and ... safely eliminated from the body or is converted into a ...
... Pa. , March 17 Orbel,s ... design your own PCB shield. Visit the BLS section ... from a wide variety of surface mount or ... The easy-to-use application lets you enter shield dimensions, ...
... A new study involving scientists from 13 different ... protection offers one of the most effective, practical, ... study, "Indigenous Lands, Protected Areas, and Slowing Climate ... a peer-reviewed scientific journal, and makes specific recommendations ...
Cached Biology News:LSUHSC research increases understanding of drug metabolism 2Orbel Introduces the Board Shielding Wizard 2Study highlights forest protected areas as a critical strategy for slowing climate change 2
CD69/CD3 50 tests...
Mouse monoclonal [CIG 3A11/5] to Cig2 (rating: *****) ( Abpromise for all tested applications)....
Goat polyclonal to Glucose Dehydrogenase ( Abpromise for all tested applications). Antigen: Glucose Dehydrogenase (Bacillus species)...
Request Info...
Biology Products: