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Veteran Drug Industry Executive to Become President of CTI
Date:4/23/2008

New Leadership Completes CTI's Transformation to Commercial Operating

Business

SEATTLE, April 24 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (Nasdaq: CTIC; MTAX) today announced that Craig W. Philips, most recently Vice President and General Manager of Bayer Healthcare Oncology, has been named President of CTI with direct responsibilities for all Development and Commercial Operations, effective August 1, 2008. Philips' responsibilities will center on strategic management of oncology drug development, drug sales and marketing, medical affairs, science, and finance in the U.S. and in Europe. Philips will report to James Bianco, M.D., CTI's current President and CEO whose title will change to CEO upon Philips' employment with the Company.

(Photo: http://www.newscom.com/cgi-bin/prnh/20080424/AQTH064)

"Craig Philips has a record of success in global oncology development and commercial operations. In his most recent role he was responsible for an operation in excess of $350 million. He will play a key role in CTI's transition from a research-stage company to an integrated commercial cancer drug operation," said Bianco. "We have made a significant investment in our cancer drug pipeline which is now poised to seek multiple product approvals and potentially drive significant sales growth. We believe this is the right time to bring on a seasoned executive like Craig."

CTI currently markets Zevalin(R) in the U.S., a drug for treating relapsed follicular non-Hodgkin's lymphoma (NHL), has submitted an application for approval for its lung cancer drug XYOTAX(TM) in Europe, and expects final data on anothe
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SOURCE Cell Therapeutics, Inc.
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