Celator Pharmaceuticals, Inc. Announces Lawrence Mayer, Ph.D., Founder, President And Chief Scientific Officer Was Inducted To The American Institute For Medical And Biological Engineering

EWING, N.J., March 17, 2015 /PRNewswire/ -- Celator Pharmaceuticals, Inc. (Nasdaq: CPXX), a biopharmaceutical company that is transforming the science of combination therapy and developing products to improve patient outcomes in cancer, today announced the induction of Lawrence Mayer, Ph.D., founder, president and chief scientific officer of Celator, to the American Institute for Medical and Biological Engineering (AIMBE) College of Fellows.

Dr. Mayer was nominated, reviewed and elected by peers and members of the College of Fellows, "for outstanding contributions to the field of nanomedicines and the development of novel pharmaceutical products for cancer and other diseases."

The College of Fellows is comprised of the top two percent of medical and biological engineers in the country. AIMBE Fellows are regularly recognized for their contributions in teaching, research and innovation.

"AIMBE is a prestigious group that fosters advancement in medical innovation and discovery," said Lawrence Mayer. "Being inducted as a Fellow of AIMBE is a great honor."

"We are excited that Lawrence is being recognized as an innovator in the field of nanomedicines," said Scott Jackson, chief executive officer of Celator.  "He is a driving force behind the company's technology platforms and the advancement of products into clinical development.  The most advanced product candidate is CPX-351, which recently completed enrollment in a Phase 3 study, and initial data are expected in the second quarter of 2015."

About Celator Pharmaceuticals, Inc.

Celator Pharmaceuticals, Inc., with locations in Ewing, N.J., and Vancouver, B.C., is a clinical stage biopharmaceutical company that is transforming the science of combination therapy, and developing products to improve patient outcomes in cancer. Celator's proprietary technology platform, CombiPlex®, enables the rational design and rapid evaluation of optimized combinations incorporating traditional chemotherapies as well as molecularly targeted agents to deliver enhanced anti-cancer activity.  CombiPlex addresses several fundamental shortcomings of conventional combination regimens, as well as the challenges inherent in combination drug development, by identifying the most effective synergistic molar ratio of the drugs being combined in vitro, and fixing this ratio in a nano-scale drug delivery complex to maintain the optimized combination after administration and ensure its exposure to the tumor.  Celator's pipeline includes lead product, CPX-351 (a liposomal formulation of cytarabine:daunorubicin) for the treatment of acute myeloid leukemia; CPX-1 (a liposomal formulation of irinotecan:floxuridine) for the treatment of colorectal cancer; a preclinical stage product candidate, CPX-8 (a hydrophobic docetaxel prodrug nanoparticle formulation), being studied by the National Cancer Institute's Nanotechnology Characterization Laboratory; and several programs exploring novel combinations of existing drugs, including molecularly targeted therapies and epigenetic modulators.

For more information, please visit Celator's website at www.celatorpharma.com. Information on ongoing trials is available at www.clinicaltrials.gov.

Forward-Looking Statements:

To the extent that statements contained in this press release are not descriptions of historical facts regarding Celator, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements in this release involve substantial risks and uncertainties that could cause our research and development programs, the efficacy and commercial potential of our drug candidates, and our performance and achievements to differ significantly from those expressed or implied by the forward-looking statements.  Celator undertakes no obligation to update or revise any forward-looking statements.  For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the company in general, see Celator's Form 10-K for the year ended December 31, 2013 and other filings by the company with the U.S. Securities and Exchange Commission.

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SOURCE Celator Pharmaceuticals, Inc.