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 (IG... (as cancer. We were impressedwith the dat...)

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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

Date:8/22/2007

as cancer. We were impressed with the data, the results and the potential advantages of the totally human antibody to IGF-II initially reported by Dr. Dimitrov in the January 2006 issue of Molecular Cancer Therapeutics. We contacted Dr. Dimitrov, evaluated the opportunity and entered into this CRADA."

Dimiter S. Dimitrov, Ph.D., NCI principal investigator for the CRADA and head of the Protein Interaction Group of the CCR Nanobiology Program at the NCI's Center for Cancer Research, will lead the research effort. Dimitrov's group is focused on the development of fully human monoclonal antibodies targeting the IGF pathway and system in the search for novel cancer therapeutics. Recently published data and ongoing research and development validate IGF as a promising target for the treatment of patients with cancer. Dimitrov's laboratory has filed patent applications for a panel of novel human antibodies against components of the IGF system, including IGF-II and IGF-I.

"Recently several antibodies targeting IGF-IR have entered clinical trials. Antibodies that target only the receptor could bind to normal cells expressing the receptor with possible toxic effects. Thus, our initial focus will be on antibodies against the ligands IGF-I and IGF-II that inhibit interaction with IGF-IR," said Jack W. Singer, M.D., Chief Medical Officer at CTI. "Early data has been submitted from this CRADA research for presentation at the upcoming AACR-NCI-EORTC meeting in October."

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.cticseattle.com.

About Systems Medicine (SM)

In July 2007, CTI acquired SM, a privately held oncology company, in a stock for stock merger. Systems Medicine (SM) applies a system
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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 (IG...(as cancer. We were impressedwith the dat...)