Readies R & D facilities for Ap3ana, CTI's 'personalized medicine' venture
SEATTLE, Oct. 3 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI) (Nasdaq: CTIC) announced today that Christina A. Waters, Ph.D., M.B.A., most recently President and COO of a Tyr Pharma and formerly Director of Scientific Development at Genomics Institute of the Novartis Research Foundation, has been named President of CTI Europe. Based in Bresso, Italy, CTI Europe currently conducts the research and development of CTI's cancer drug pipeline.
"With her specialized background in genomics, hands on experience in integrating research and development operations, and proven strategic portfolio development capabilities, Dr. Waters, a Howard Hughes Fellow, is an excellent choice to lead the Bresso unit," said James A. Bianco, M.D., CEO of CTI. "She will bring the necessary knowledge and experience in oncology to direct Bresso's world-class scientists and bridge R&D with Translational Medicine," Bianco added.
"Leading the Bresso operation is a great opportunity as it will be a key part of the foundation on which we build Ap(3)ana. This is truly the time when we will see major advancements made in health care and we intend to be at the heart of it," Dr. Waters said.
In her new role as President of CTI Europe, Dr. Waters, will accelerate the launch of Ap(3)ana, an organization that will seek to integrate new technologies in the areas of informatics, genetics, preclinical and clinical development to advance medical treatment and predictive medicine.
Ap(3)ana is expected to combine Bresso's R & D capabilities with the advanced genomic screening of CTI's Systems Medicine subsidiary, and novel computational technologies of The Translational Genomics Research Institute. Initially, Ap(3)ana would focus these resources on establishing collaborations with biotechnology and pharmaceutical companies to improve the efficiency and likelihood of success for their clinical programs. In parallel, Ap(3)ana will seek to integrate health data from a variety of global databases to derive useful clinical insights through advanced correlations and disseminate these clinical insights to healthcare providers and communities throughout the world. Patients and clinicians would benefit from this real-time access to the best individual treatment choices.
"We are closer than ever to empowering both the clinician and the patient to make informed, individualized decisions to promote wellness," Dr. Waters said. "We expect Ap(3)ana to usher in a new era of personalized, predictive and preventative healthcare."
Dr. Waters holds a Ph.D. in Genetics from the University of California, an M.B.A. from UCLA's Anderson School of Management, and a B.S. in Biology from San Diego State University.
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, including forward-looking statements about CTI, CTI Europe and a proposed new company, Ap(3)ana, in which CTI would receive equity in exchange for the contribution of certain CTI assets upon the successful funding of Ap(3)ana. Such forward-looking statements 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 CTI Europe and the development of Ap(3)ana include, without limitation, risks associated with not successfully finalizing the proposed spin-off, the inability to successfully fund Ap(3)ana, competitive factors, challenges arising from doing business in Italy and the risk factors listed or described from time to time in CTI's filings with the Securities and Exchange Commission including, without limitation, CTI's most recent filings on Forms 10-K, 8-K, and 10-Q. Specifically, the risks and uncertainties that could affect CTI include risks associated with preclinical and clinical developments in the biopharmaceutical industry in general including, without limitation, the potential failure of a product to prove safe and effective for treatment of a specific condition, determinations by regulatory, patent and administrative governmental authorities, competitive factors, technological developments, costs of developing, producing and selling the product(s), and the risk factors listed or described from time to time in CTI's filings with the Securities and Exchange Commission including, without limitation, CTI's most recent filings on Forms 10-K, 8-K, and 10-Q. CTI continues to have substantial amount of debt outstanding and the quarterly interest expense associated with the debt is significant; CTI's operating expenses continue to exceed its net revenues and CTI will continue to need to raise capital to fund its operating expenses; as well as other risks listed or described from time to time in CTI's most recent filings with the SEC on Forms 10-K, 8-K and 10-Q. Except as may be required by law, CTI does not intend to update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.
Sign up for email alerts and get RSS feeds at our Web site,
|SOURCE Cell Therapeutics, Inc.|
Copyright©2008 PR Newswire.
All rights reserved