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

r late stage phase III drug, pixantrone, for relapsed or refractory aggressive NHL at the end of this summer. Positive pixantrone data could allow CTI to file an application for FDA approval in late 2008 or early 2009. XYOTAX is also being studied independently in a phase III trial for ovarian cancer, with interim data results expected in late 2009.

In December 2007, CTI acquired the U.S. sales and marketing rights to Zevalin. Bayer-Schering Pharmaceuticals, which holds the sales and marketing rights to Zevalin in Europe and the rest of the world, recently received a positive opinion from the European Committee for Medicinal Products for Human Use (CHMP) recommending Zevalin for first-line consolidation treatment of NHL in Europe, which remains subject to EMEA review. CTI is currently negotiating rights to access the Bayer-Schering Pharmaceutical data to explore label expansion for Zevalin's label in the U.S. CTI is also developing brostallicin, another cancer drug for sarcoma currently in phase II/ III trials. Much of CTI's early pre-clinical cancer development is conducted at its Italian facility in Bresso.

CTI has a worldwide licensing agreement with Novartis on XYOTAX; Novartis also holds an option to negotiate an exclusive license for pixantrone. If XYOTAX receives regulatory approval in the U.S. or Europe and Novartis elects to participate in the marketing and developing of XYOTAX, then CTI would be eligible for milestone and development cost reimbursements as well as royalties on net sales.

"With its attractive and maturing late-stage pipeline, CTI now has multiple opportunities to succeed in bringing important new products to oncology patients," Philips said. "Jim has done an amazing job of re-inventing the Company, optimizing the positioning of its late stage products alongside a powerful commercial team at Novartis, while enhancing CTI's ability to grow a successful, independent U.S. commercial operation. The ground work for success ha
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SOURCE Cell Therapeutics, Inc.
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