Distinguished Cancer Investigator, Daniel Von Hoff, M.D., to Lead Cell Therapeutics' Scientific Advisory Board

    Distinguished Cancer Investigator, Daniel Von Hoff, M.D., to Lead Cell
                   Therapeutics' Scientific Advisory Board

PR Newswire

SEATTLE, July 24, 2013

SEATTLE, July 24, 2013 /PRNewswire/ -- Cell Therapeutics, Inc. (CTI) (NASDAQ
and MTA: CTIC) today announced that Daniel D. Von Hoff, M.D., F.A.C.P, a
leading medical oncologist who has been the lead investigator in the
development of important oncology therapeutics,will serve as Chairman of
CTI's Scientific Advisory Board. The purpose of the Scientific Advisory Board
will be to assist management in the strategic development of its oncology
portfolio and clinical trial design; work with business development on
in-licensing and out-licensing opportunities, and assist in the use of
translational and personalized approaches to therapeutic targets.

Dr. Von Hoff is currently 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. Dr. Von Hoff's major interest is in the development of
new anticancer agents, both in the clinic and in the laboratory.An
internationally recognized innovator in the development of targeted therapies,
he and his colleagues were involved in the development of many approved
therapeutic agents that are now used routinely, including paclitaxel,
docetaxel, mitoxantrone, fludarabine, clofarabine, alemtuzumab, irinotecan,
nelarabine, capecitabine, and vismodegib. Dr. Von Hoff's laboratory interests
and contributions have been in the area of using translational and genomic
approaches to individualize therapy for cancer. His laboratory is now
concentrating on discovering new targets in pancreatic cancer.

"I am pleased to help build and lead CTI's Scientific Advisory Board, as I am
very impressed with the diversity of the CTI portfolio of product candidates
and their potential as targeted therapies for patients with unmet needs," said
Dr. Von Hoff. "In particular, early indications suggest that CTI's lead
pipeline candidate, pacritinib, has promise to be an active JAK2/FLT3
inhibitor for myelofibrosis and other hematology / oncology indications. The
Company's vision to discover new treatments that specifically target the
underlying disease leading to safer, more effective drugs to treat patients
with cancer is spot on. I look forward to contributing to the exciting
ongoing work at CTI now and in the future."

Dr. Von Hoff is a past president of the American Association for Cancer
Research, a fellow of the American College of Physicians, and a member and
past board member of the American Society of Clinical Oncology. He also is
the 2010 recipient of the David Karnofsky award from the American Society of
Clinical Oncology. In addition to being a mentor and teacher for medical
students, oncology fellows, graduate students and post-doctoral fellows, Dr.
Von Hoff has published 137 book chapters, more than 625 manuscripts and 1,060
abstracts. He is the founder and editor emeritus of Investigational New Drugs
– The Journal of New Anticancer Agents, as well as founding editor-in-chief of
Molecular Cancer Therapeutics. 

"Dr. Von Hoff is world-renowned for his work in the discovery and development
of novel, targeted anti-cancer agents and CTI will benefit significantly from
his knowledge and experience," stated James A. Bianco, M.D., President and CEO
of CTI. "We are honored to have an individual of his caliber providing
strategic advice and leading the formation of our Scientific Advisory Board."

About Cell Therapeutics, Inc.

Cell Therapeutics (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.

Safe Harbor Statement

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,
including the belief that pacritinib has promise to be an active JAK2/FLT3
inhibitor for myelofibrosis and other hematology / oncology indications.
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, costs of
developing, producing and selling PIXUVRI, 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'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
T: +39 02 89659706
E: lvilla@cti-lifesciences.com
CTI_EUInvestors@CTI-Lifesciences.com

SOURCE Cell Therapeutics, Inc.

Website: http://www.celltherapeutics.com
 
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