CTI and Novuspharma complete merger

Published: 5-Jan-2004


Cell Therapeutics (CTI) and Novuspharma have completed the merger of Novuspharma into CTI. The merger was approved by the shareholders of both companies in October. All closing conditions have now been satisfied, including approval of the listing of CTI's common stock on the Nuovo Mercato in Italy.

'The strategic fit of this merger is perfect, with both companies focused on hematology and oncology, and in particular the development of next generation chemotherapy agents designed to improve the safety and efficacy of existing agents,' stated Dr James Bianco, president and ceo of CTI. 'Completion of this merger is an important step in our mission to make cancer more treatable.

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