Cell Therapeutics, Inc. Adds Three Leaders in Blood Cancer Research and Development to Scientific Advisory Board

SEATTLE, Oct. 14, 2013 /PRNewswire/ -- Cell Therapeutics, Inc. ("CTI") (NASDAQ and MTA: CTIC) today announced the addition of three leaders in the research and development of new treatments for blood-related cancers to CTI's recently formed Scientific Advisory Board (SAB): Alan List, M.D., President and CEO of Moffitt Cancer Center; Ross Levine, M.D., Associate Attending Physician at Memorial Sloan-Kettering Cancer Center; and Brian Druker, M.D., Director of the Knight Cancer Institute at Oregon Health & Science University (OHSU). The SAB will advise on the development of CTI's oncology programs and evaluate new opportunities in the treatment of blood-related cancers. CTI's SAB is chaired by Daniel Von Hoff, M.D., F.A.C.P., Physician in Chief and Director of Translational Research at the Translational Genomics Research Institute (TGen), Chief Scientific Officer for US Oncology and for Scottsdale Healthcare's Clinical Research Institute.

"We are pleased to add this group's insight as distinguished leaders in the research and development of new treatments for blood-related cancers to our SAB," stated James A. Bianco, M.D., President and CEO of CTI. "Under Dan's leadership, the SAB will play an important role in the strategic development of our oncology portfolio and clinical trial design, review in-licensing and out-licensing opportunities, and assist in the use of translational and personalized approaches to therapeutic targets."

Brief biographies of the three new members are below:

Brian J. Druker, M.D.

Dr. Druker is the Director of the Knight Cancer Institute at Oregon Health & Science University (OHSU), JELD-WEN Chair of Leukemia Research at OHSU, and an Investigator of the Howard Hughes Medical Institute.

Dr. Druker's work was instrumental in the development of GLEEVEC^® (imatinib), a drug that targets the molecular defect in chronic myeloid leukemia (CML). His role in the development of imatinib and its application in the clinic have resulted in numerous awards for Dr. Druker, including the John J. Kenney Award from The Leukemia and Lymphoma Society, the AACR-Richard and Hinda Rosenthal Award, the Warren Alpert Prize from Harvard Medical School, the American Society of Hematology's Dameshek Prize, the American Cancer Society's Medal of Honor, the David A. Karnofsky Award from the American Society of Clinical Oncology, the Robert-Koch Award, and most recently, the Lasker-DeBakey Clinical Medical Research Award from The Albert and Mary Lasker Foundation. He has been elected to the Institute of Medicine of the National Academies, the American Association of Physicians, the National Academy of Sciences and the American Academy of Arts and Sciences.

Ross L. Levine, M.D.

Dr. Levine is an Associate Attending Physician at Memorial Sloan-Kettering Cancer Center in the Human Oncology and Pathogenesis Program and Leukemia Service and is an Associate Professor of Medicine at Weill Cornell Medical College. He is a physician scientist with expertise in the molecular genetics of myeloid malignancies, including myeloproliferative neoplasms (MPN) and acute myeloid leukemia (AML). The focus of the Levine laboratory is to improve the understanding of the genetic basis of myeloid malignancies, with a specific focus on the role of oncogenic disease alleles in the pathogenesis of MPN and AML. He has been involved in the discovery and characterization of disease alleles in MPN and AML patients, including the identification of JAK2 and MPL mutations in MPN patients.

Dr. Levine serves on the editorial board of Blood, Haematologica (Associate Editor) and Clinical Cancer Research and is a member of the International Working Group for Myelofibrosis. He has earned a Young Investigator Award from the American Society of Clinical Oncology, a Fellow Scholar Award from the American Society of Hematology and a Clinical Scientist Development Award from the Doris Duke Charitable Foundation. He is a Scholar of the Leukemia and Lymphoma Society. He serves on the Medical and Scientific Advisory Board of the Leukemia and Lymphoma Society, and is the chair of the Committee on Epigenetics and Genomics of the American Society of Hematology.

Alan F. List, M.D.

Dr. List is the President and CEO of Moffitt Cancer Center. He is a senior member in the Department of Malignant Hematology and the Experimental Therapeutics Program. In addition, Dr. List is a professor of internal medicine and oncology at the University of South Florida College of Medicine.

Dr. List's research interests include novel therapeutic agents to treat acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS). He and his research team are nationally recognized for their contributions to understanding the biology of AML and MDS in order to develop more effective treatment strategies.

The former leader of Moffitt's Malignant Hematology Program, Dr. List was the lead investigator for a study that showed important clinical results for REVLIMID^® (lenalidomide), which has received fast-track designation from the U.S. Food and Drug Administration to treat MDS and multiple myeloma.

About Cell Therapeutics, Inc.

CTI (NASDAQ and MTA: CTIC) is a biopharmaceutical company committed to the development and commercialization of an integrated portfolio of oncology products aimed at making cancer more treatable. CTI is headquartered in Seattle, WA. For additional information and to sign up for email alerts and get RSS feeds, please visit www.CellTherapeutics.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to a number of risks and uncertainties, the outcome of which could materially and/or adversely affect actual future results and the trading price of CTI's securities. Such statements include, but are not limited to, statements regarding expectations with respect to the development of the Company and its product and product candidate portfolio and the expected benefits and contributions of the SAB to CTI. Risks that contribute to the uncertain nature of the forward-looking statements include, among others, risks associated with the biopharmaceutical industry in general and with CTI and its product and product candidate portfolio in particular including, among others, risks associated with the following: that CTI cannot predict or guarantee the pace or geography of enrollment of its clinical trials, that CTI cannot predict or guarantee the outcome of preclinical and clinical studies, that CTI may not obtain reimbursement for PIXUVRI in certain markets in the European Union as planned, that the conditional marketing authorization for PIXUVRI may not be renewed, that the second Phase 3 clinical trial of pacritinib will not occur as planned, that CTI may not obtain favorable determinations by other regulatory, patent and administrative governmental authorities, that CTI may experience delays in the commencement of preclinical and clinical studies, risks related to the costs of developing, producing and selling PIXUVRI, pacritinib, and CTI's other product candidates, and other risks, including, without limitation, competitive factors, technological developments, that CTI's operating expenses continue to exceed its net revenues, that CTI may not be able to sustain its current cost controls or further reduce its operating expenses, that CTI may not achieve previously announced goals and objectives as or when projected, that CTI's average net operating burn rate may increase, that CTI will continue to need to raise capital to fund its operating expenses, but may not be able to raise sufficient amounts to fund its continued operation as well as other risks listed or described from time to time in CTI's most recent filings with the Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K. Except as required by law, CTI does not intend to update any of the statements in this press release upon further developments.

Contacts:

Monique Greer
+1 206-272-4343
mgreer@ctiseattle.com

Ed Bell
+1 206-282-7100
ebell@ctiseattle.com

In Europe:

CTI Life Sciences Limited, Milan Branch
Laura Villa
+39 02 89659706
lvilla@cti-lifesciences.com
CTI_EUInvestors@CTI-Lifesciences.com

SOURCE Cell Therapeutics, Inc.