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Cell Therapeutics Targeting Potential Zevalin Label Expansion, Pixantrone and OPAXIO Drug Approvals to Grow Commercial Operations and Revenues in 2009
Date:1/14/2009

hrough potential funding from partnerships or joint ventures, public or private equity financings, debt financings or restructurings, dispositions of assets or through other means in order to fund its continued operations. CTI could also choose to raise additional capital through the exercise of a sale option, exercisable in its sole discretion from January 15, 2009 through July 15, 2009, to sell its 50% membership interest in the Zevalin joint venture to Spectrum for $18 million.

Strengthened executive and commercial team with addition of Craig Philips, previously Vice President and General Manager of Bayer Healthcare Oncology, as President of CTI U.S. and Christina Waters, Ph.D., formerly Director of Scientific Development at Genomics Institute of the Novartis Research Foundation, as President of CTI Europe and CTI's Systems Medicine subsidiary.

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 http://www.celltherapeutics.com.

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 future results include the risks associated with preclinical and clinical developments in the biopharmaceutical industry in general, the determinations by regulatory, patent and administrative governmental authorities, competitive factors, technological developments, the potential for Zevalin FIT data to be acceptable to the FDA for an expanded indication or any other indication, the risk that if label expansion of Zevalin is approved, it may not result in a significant
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SOURCE Cell Therapeutics, Inc.
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