Cell Therapeutics cancer news

Cell Therapeutics reduced headcount by 62 (34%) to 122 through the closure of its preclinical research facility in Bresso, Italy. The company will cease preclinical operations to focus on pixantrone, an aza-anthracenedione DNA intercalating agent with Fast Track designation in Phase III testing to treat relapsed, aggressive NHL; and Opaxio paclitaxel poliglumex, a polyglutamate polymer formulation of paclitaxel, in Phase III testing to treat non-small cell lung cancer (NSCLC) and ovarian cancer. Opaxio, which is under review for NSCLC in Europe, is partnered with Novartis AG (NYSE:NVS;SIX:NOVN, Basel, Switzerland). Cell Therapeutics expects to begin submission of a rolling NDA for pixantrone for NHL in 1Q09. ...