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Cell Therapeutics (CTIC) is a biopharmaceutical company based in Seattle, WA since 1991. Cell Therapeutics Mission Statement; “CTI is committed to developing, acquiring, and commercializing innovative treatments for cancer. In our pursuit of making cancer more treatable, we are developing a diversified portfolio of oncology products focused on identifying and developing new, less toxic, and more effective ways to treat cancer.”
CTI has 3 promising cancer drugs on the horizon.
1. Pixantrone, which is under phase III clinical trial. Pixantrone has recently been sent and accepted to the U.S. Food and Drug Administration (FDA) for standard review their New Drug Application (NDA) with a Prescription Drug User Fee Act (PDUFA) action date of April 23, 2010.
Pixantrone was developed for potential treatment for non-Hodgkin’s Lymphoma.
2. OPAXIO™, which is under phase III clinical trial is being studied as a potential treatment for ovarian, non-small cell lung (NSCLC), and other cancers.
3. Brostallicin, which is under phase II clinical trial. Brostallicin was developed with the intentions of being a useful combination with newer/targeted cancer therapies and treatment for common tumor types.
Major Partnership
Novartis headquarter in Basel, Switzerland is one of the world’s largest healthcare/pharmaceutical companies. Novartis has shown great interest in CTI, in 2006 both companies agreed on a partnership deal. Novartis would have exclusive worldwide development and commercialization of OPAXIO, and in addition to that, the agreement allows Novartis the option to develop and commercialize Pixantrone. The agreement resulted in a $15 million equity investment in CTI.
Additional Partnerships
In 2007 CTI acquired System Medicine. Including collaborations with;
Nerviano Medical Sciences, Milan
The Translational Genomics Research Institute (TGen)
The Cancer Drug Development Laboratory
TGen Drug Development Services
The Molecular Profiling Institute
For a long term investment CTIC with a stock price under $1 is a steal! It has a lot of potential for growth, success and profit. Oh! And did I mention a possible buyout will always be on the table, especially with Novartis’s strategic partnership. So lookout for surprises after the FDA’s decision on Pixantrone in April 2010!
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