Cell Therapeutics, Inc. (CTI) Appoints Former Managing Director, Head Of West Coast Biotechnology For Oppenheimer/CIBC Matthew J. Plunkett Executive Vice President, Corporate Development

SEATTLE, Sept. 4, 2012 /PRNewswire/ -- Cell Therapeutics, Inc. (CTI) (NASDAQ and MTA: CTIC), a company focused on translating science into novel cancer therapies, today appointed former  Managing Director and Head of West Coast Biotechnology for Oppenheimer & Co. and its U.S. predecessor, CIBC World Markets, Matthew J. Plunkett, Ph.D., as CTI's Executive Vice President, Corporate Development. Dr. Plunkett will lead CTI's partnering strategy including development collaborations, licensing agreements, and strategic alliances.

Dr. Plunkett has more than 15 years' experience in the biopharmaceutical industry. This includes 9 years at Oppenheimer & Co. and CIBC World Markets.  Dr. Plunkett advised on more than 70 completed transactions companies in the U.S., Europe and Australia, including more than $4 billion in equity and equity-linked transactions and $1 billion in merger, acquisition and other financial advisory transactions.

Most recently, Dr. Plunkett was Chief Financial Officer at the California Institute for Regenerative Medicine, a $3 billion fund for California stem cell research. He also served as Vice President and Chief Financial Officer at iPierian, a privately-held development-stage biotechnology company. He began his scientific career at Sunesis Pharmaceuticals and Axys Advanced Technologies. Dr. Plunkett received a doctorate in Organic Chemistry from the University of California, Berkeley, and a bachelor of science in Chemistry from Harvey Mudd College, Claremont, California.

"Matt has a wealth of experience in financing, mergers, acquisitions and technology/market assessments," said James A. Bianco, M.D., President & CEO of CTI.

"CTI is one of a select few companies that both have the opportunity of a product approved in Europe, and drug candidates with attractive commercial potential for different blood-related cancers," Dr. Plunkett said. "It is all the more impressive that CTI has been able to establish this pipeline during a time of unprecedented challenges for the biotech industry. I look forward to contributing to CTI's success with value-creating transactions."

About Cell Therapeutics, Inc.

Headquartered in Seattle, CTI is a biopharmaceutical company committed to developing an integrated portfolio of oncology products aimed at making cancer more treatable. For additional information, please visit www.CellTherapeutics.com.

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Media Contact:

Dan Eramian T: 206.272.4343C: 206.854.1200E: [e-mail] www.CellTherapeutics.com/press_room

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