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Celator(R) Pharmaceuticals Initiates Research Agreement With Cephalon, Inc.
Date:5/21/2009

PRINCETON, N.J., May 21 /PRNewswire/ -- Celator Pharmaceuticals today announced that it has entered into a research agreement with Cephalon, Inc. (Nasdaq: CEPH). The research agreement provides for the exploration of the application of Celator's proprietary technology to an ongoing drug development and life-cycle management program at Cephalon.

"This agreement provides an opportunity to leverage the technology and expertise at Celator beyond our own pipeline," said Scott Jackson, chief executive officer, Celator Pharmaceuticals. "It is exciting to advance our capabilities with such a high caliber partner as well as through progress in our clinical programs. We believe our technology has the potential to improve clinical outcomes with a wide variety of cancer products and we continue to seek additional partners."

"Celator has developed unique capabilities in liposomal and nano-particle encapsulation," said Jeffry Vaught, Ph.D., chief scientific officer at Cephalon. "Exploring their utility for Cephalon pipeline compounds is entirely consistent with our commitment to use drug delivery technology to optimize treatment and improve patient care."

Terms and conditions of the research agreement are confidential.

About Cephalon, Inc.

Founded in 1987, Cephalon, Inc. is an international biopharmaceutical company dedicated to the discovery, development and commercialization of many unique products in four core therapeutic areas: central nervous system, inflammatory diseases, pain and oncology. Cephalon currently markets five products for treatment of patients with cancer. In addition, the company currently has six compounds for oncology targets in development. A member of the Fortune 1000 and the S&P 500 Index, Cephalon currently employs approximately 3,000 people
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SOURCE Celator Pharmaceuticals, Inc.
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