SEATTLE, Aug. 22 /PRNewswire-FirstCall/ -- Systems Medicine, LLC (SM), a wholly-owned subsidiary of Cell Therapeutics, Inc. (CTI) (Nasdaq and MTAX: CTIC), today announced they have entered into a Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute (NCI) of the National Institutes of Health (NIH). The goal of this CRADA is to develop patented products for the treatment of patients with cancer -- specifically, human monoclonal antibodies (hmAbs), peptides, and small molecules that affect signal transduction through the insulin-like growth factor (IGF) receptor type I (IGF-IR) and the insulin receptor (IR).
Under terms of the CRADA, which is effective for five years beginning July 31, 2007, SM will have an exclusive option to elect an exclusive or non- exclusive commercialization license to any inventions developed under the CRADA. Scientists at SM and CTI will work with scientists at the Protein Interaction Group at the NCI campus in Frederick, Maryland.
"This is important research being conducted by leaders in the field at NCI that may offer advantages over other therapeutics directed at this target. If successful, CTI would have exclusive rights to negotiate with NIH for a product that targets the ligand that activates the IGF receptor, unlike current approaches to IGF inhibition that target the receptor directly," said James A. Bianco, M.D., President and CEO of Cell Therapeutics, Inc. "This is another exciting addition to several early stage targeted therapies we are evaluating including SRC inhibitors and bisplatinates."
Daniel D. Von Hoff, M.D., Chief Medical Advisor to SM,
Physician-in-Chief and Director of the Clinical Translational Research
Division at the Translational Genomics Research Institute in Phoenix,
Arizona and head of CTI's strategic product portfolio committee noted that,
"the IGF system plays an important role in many physiological processes,
especially in pathological conditions such
|SOURCE Cell Therapeutics, Inc.|
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