SEATTLE, Nov. 21, 2011 /PRNewswire/ -- Cell Therapeutics, Inc. (CTI) (NASDAQ and MTA: CTIC) announced today that it has received a Notice of Allowance from the U.S. Patent and Trademark Office for a patent application directed to increasing the plasma half-life of therapeutic proteins and peptides by recombinantly conjugating them to a novel, non-immunogenic peptide repeat sequence. The patent and its related technology are exclusively licensed to Aequus Biopharma, Inc. (Aequus), a majority owned subsidiary of CTI, for the purpose of development and commercialization. The patent application entitled "Conjugates of biologically active proteins having a modified in vivo half-life" has also been filed in other regions and countries, including Europe and Japan. Corresponding patents have been granted in New Zealand, South Africa and Singapore.
"This U.S. Patent Allowance is an important milestone for Aequus and its development of the GlycoPolymer technology," said Stewart D. Chipman, Ph.D., President and CSO of Aequus. "We believe that this technology has the potential to significantly streamline the development of first-in-class therapeutic proteins and peptides, as well as extend the half-life of existing therapeutic proteins and peptides to improve their therapeutic profile through less frequent dosing, resulting in improved patient compliance. Our lead program, AQB-101, is a novel glycoprotein with G-CSF-like activity that demonstrates an extended plasma half-life. Aequus is currently generating in vivo data to demonstrate AQB-101's utility, and we look forward to further development of AQB-101 and the GlycoPolymer technology," Dr. Chipman concluded.
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 www.CellTherapeutics.com.
About Aequus BioPharma, Inc.
Headquartered on Bainbridge Island, WA, Aequus BioPharma is a biopharmaceutical company committed to streamlining the development of biopharmaceuticals with improved pharmacokinetic properties in a wide variety of human disease indications. Aequus Biopharma is a majority owned subsidiary of Cell Therapeutics. For additional information, please visit www.aequusbiopharma.com.
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This press release includes forward-looking statements that involve a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results. Specifically, the risks and uncertainties that could affect the development of GlycoPolymer technology include risks associated with preclinical and clinical developments in the biopharmaceutical industry in general and with the GlycoPolymer technology in particular including, without limitation, the potential failure to prove safe and effective, determinations by regulatory, patent and administrative governmental authorities, competitive factors, technological developments, and the risk factors listed or described from time to time in the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's most recent filings on Forms 10-K, 8-K, and 10-Q. Except as may be required by law, CTI does not intend to update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.
|SOURCE Cell Therapeutics, Inc.|
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