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Craig W. Philips Takes Helm at CTI
Date:8/4/2008

President assumes day to day commercial and development responsibilities

SEATTLE, Aug. 5 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (the "Company") (Nasdaq: CTIC; MTA) t announced that Craig W. Philips has assumed his role as CTI's new President, and will concentrate on managing the company's drug development and commercial operations. Most recently, Philips was Vice President and General Manager of Bayer Healthcare Oncology. He will report to CTI's James A. Bianco, M.D., who has served as President and Chief Executive Officer since its founding and will remain with the company as CEO.

"Bringing Craig Philips on board at this time represents a milestone at CTI as the company has shifted from a research and development organization to a commercial operating company with the potential to expand the market indication for Zevalin(R), report pixantrone pivotal trial results, and potentially file a NDA, as well as the potential for an OPAXIO(TM) launch in 2009," said Bianco.

"With the opportunity to bring two new cancer drugs to market and expand the label of another in the near term, CTI could transform itself into a successful commercial enterprise," said Philips. "I look forward to helping to bring value to CTI shareholders, and to improving the treatment options available to individuals suffering with cancer."

In late 2007, CTI acquired the U.S. sales and marketing rights to Zevalin, a drug for treating relapsed follicular non-Hodgkin's lymphoma (NHL). The full marketing and sales team has recently come on line, and Zevalin sales for 2008 are on track at a projected $15 million for the year. Recently, CTI has gained access rights to Bayer's FIT trial data, and will meet with the Food and Drug Administration
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SOURCE Cell Therapeutics, Inc.
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