SEATTLE, Oct. 3 Cell Therapeutics, Inc. (CTI)(Nasdaq: CTIC) announced today that Christina A. Waters, Ph.D., M.B.A., mostrecently President and COO of a Tyr Pharma and formerly Director of ScientificDevelopment at Genomics Institute of the Novartis Research Foundation, hasbeen named President of CTI Europe. Based in Bresso, Italy, CTI Europecurrently conducts the research and development of CTI's cancer drug pipeline.
"With her specialized background in genomics, hands on experience inintegrating research and development operations, and proven strategicportfolio development capabilities, Dr. Waters, a Howard Hughes Fellow, is anexcellent choice to lead the Bresso unit," said James A. Bianco, M.D., CEO ofCTI. "She will bring the necessary knowledge and experience in oncology todirect Bresso's world-class scientists and bridge R&D with TranslationalMedicine," Bianco added.
"Leading the Bresso operation is a great opportunity as it will be a keypart of the foundation on which we build Ap(3)ana. This is truly the timewhen we will see major advancements made in health care and we intend to be atthe heart of it," Dr. Waters said.
In her new role as President of CTI Europe, Dr. Waters, will acceleratethe launch of Ap(3)ana, an organization that will seek to integrate newtechnologies in the areas of informatics, genetics, preclinical and clinicaldevelopment to advance medical treatment and predictive medicine.
Ap(3)ana is expected to combine Bresso's R & D capabilities with theadvanced genomic screening of CTI's Systems Medicine subsidiary, and novelcomputational technologies of The Translational Genomics Research Institute.Initially, Ap(3)ana would focus these resources on establishing collaborationswith biotechnology and pharmaceutical companies to improve the efficiency andlikelihood of success for their clinical programs. In parallel, Ap(3)ana willseek to integrate health data from a variety of global databases to deriveuseful clinical insights through advanced correlations and disseminate theseclinical insights to healthcare providers and communities throughout theworld. Patients and clinicians would benefit from this real-time access tothe best individual treatment choices.
"We are closer than ever to empowering both the clinician and the patientto make informed, individualized decisions to promote wellness," Dr. Waterssaid. "We expect Ap(3)ana to usher in a new era of personalized, predictiveand preventative healthcare."
Dr. Waters holds a Ph.D. in Genetics from the University of California, anM.B.A. from UCLA's Anderson School of Management, and a B.S. in Biology fromSan Diego State University.
About Cell Therapeutics, Inc.
Headquartered in Seattle, CTI is a biopharmaceutical company committed todeveloping an integrated portfolio of oncology products aimed at making cancermore treatable. For additional information, please visithttp://www.CellTherapeutics.com.
This press release includes forward-looking statements, includingforward-looking statements about CTI, CTI Europe and a proposed new company,Ap(3)ana, in which CTI would receive equity in exchange for the contributionof certain CTI assets upon the successful funding of Ap(3)ana. Suchforward-looking statements involve a number of risks and uncertainties, theoutcome of which could materially and/or adversely affect actual futureresults. Specifically, the risks and uncertainties that could affect CTIEurope and the development of Ap(3)ana include, without limitation, risksassociated with not successfully finalizing the proposed spin-off, theinability to successfully fund Ap(3)ana, competitive factors, challengesarising from doing business in Italy and the risk factors listed or describedfrom time to time in CTI's filings with the Securities and Exchange Commissionincluding, without limitation, CTI's most recent filings on Forms 10-K, 8-K,and 10-Q. Specifically, the risks and uncertainties that could affect CTIinclude risks associated with preclinical and clinical developments in thebiopharmaceutical industry in general including, without limitation, thepotential failure of a product to prove safe and effective for treatment of aspecific condition, determinations by regulatory, patent and administrativegovernmental authorities, competitive factors, technological developments,costs of developing, producing and selling the product(s), and the riskfactors listed or described from time to time in CTI's filings with theSecurities and Exchange Commission including, without limitation, CTI's mostrecent filings on Forms 10-K, 8-K, and 10-Q. CTI continues to havesubstantial amount of debt outstanding and the quarterly interest expenseassociated with the debt is significant; CTI's operating expenses continue toexceed its net revenues and CTI will continue to need to raise capital to fundits operating expenses; as well as other risks listed or described from timeto 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 itsforward-looking statements whether as a result of new information, futureevents, or otherwise.
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SOURCE Cell Therapeutics, Inc.