Readies R & D facilities for Ap3ana, CTI's 'personalized medicine' venture SEATTLE, Oct. 3
SEATTLE, Oct. 3 /PRNewswire-FirstCall/ -- Cell Therapeutics, Inc. (CTI)
(Nasdaq: CTIC) announced today that Christina A. Waters, Ph.D., M.B.A., most
recently President and COO of a Tyr Pharma and formerly Director of Scientific
Development at Genomics Institute of the Novartis Research Foundation, has
been named President of CTI Europe. Based in Bresso, Italy, CTI Europe
currently conducts the research and development of CTI's cancer drug pipeline.
"With her specialized background in genomics, hands on experience in
integrating research and development operations, and proven strategic
portfolio development capabilities, Dr. Waters, a Howard Hughes Fellow, is an
excellent choice to lead the Bresso unit," said James A. Bianco, M.D., CEO of
CTI. "She will bring the necessary knowledge and experience in oncology to
direct Bresso's world-class scientists and bridge R&D with Translational
Medicine," Bianco added.
"Leading the Bresso operation is a great opportunity as it will be a key
part of the foundation on which we build Ap(3)ana. This is truly the time
when we will see major advancements made in health care and we intend to be at
the heart of it," Dr. Waters said.
In her new role as President of CTI Europe, Dr. Waters, will accelerate
the launch of Ap(3)ana, an organization that will seek to integrate new
technologies in the areas of informatics, genetics, preclinical and clinical
development to advance medical treatment and predictive medicine.
Ap(3)ana is expected to combine Bresso's R & D capabilities with the
advanced genomic screening of CTI's Systems Medicine subsidiary, and novel
computational technologies of The Translational Genomics Research Institute.
Initially, Ap(3)ana would focus these resources on establishing collaborations
with biotechnology and pharmaceutical companies to improve the efficiency and
likelihood of success for their clinical programs. In parallel, Ap(3)ana will
seek to integrate health data from a variety of global databases to derive
useful clinical insights through advanced correlations and disseminate these
clinical insights to healthcare providers and communities throughout the
world. Patients and clinicians would benefit from this real-time access to
the best individual treatment choices.
"We are closer than ever to empowering both the clinician and the patient
to make informed, individualized decisions to promote wellness," Dr. Waters
said. "We expect Ap(3)ana to usher in a new era of personalized, predictive
and preventative healthcare."
Dr. Waters holds a Ph.D. in Genetics from the University of California, an
M.B.A. from UCLA's Anderson School of Management, and a B.S. in Biology from
San Diego State University.
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
http://www.CellTherapeutics.com.
This press release includes forward-looking statements, including
forward-looking statements about CTI, CTI Europe and a proposed new company,
Ap(3)ana, in which CTI would receive equity in exchange for the contribution
of certain CTI assets upon the successful funding of Ap(3)ana. Such
forward-looking statements 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 CTI
Europe and the development of Ap(3)ana include, without limitation, risks
associated with not successfully finalizing the proposed spin-off, the
inability to successfully fund Ap(3)ana, competitive factors, challenges
arising from doing business in Italy and the risk factors listed or described
from time to time in CTI's filings with the Securities and Exchange Commission
including, without limitation, CTI's most recent filings on Forms 10-K, 8-K,
and 10-Q. Specifically, the risks and uncertainties that could affect CTI
include risks associated with preclinical and clinical developments in the
biopharmaceutical industry in general including, without limitation, the
potential failure of a product to prove safe and effective for treatment of a
specific condition, determinations by regulatory, patent and administrative
governmental authorities, competitive factors, technological developments,
costs of developing, producing and selling the product(s), and the risk
factors listed or described from time to time in CTI's filings with the
Securities and Exchange Commission including, without limitation, CTI's most
recent filings on Forms 10-K, 8-K, and 10-Q. CTI continues to have
substantial amount of debt outstanding and the quarterly interest expense
associated with the debt is significant; CTI's operating expenses continue to
exceed its net revenues and CTI will continue to need to raise capital to fund
its operating expenses; as well as other risks listed or described from time
to time in CTI's most recent filings with the SEC 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.
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Media Contact:
Dan Eramian
T: 206.272.4343
C: 206.854.1200
E: media@ctiseattle.com
http://www.CellTherapeutics.com/press_room
Investors Contact:
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T: 206.282.7100
Lindsey Jesch
T: 206.272.4347
F: 206.272.4434
E: invest@ctiseattle.com
http://www.CellTherapeutics.com/investors
SOURCE Cell Therapeutics, Inc.
