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Cell Therapeutics Reaches Agreement With U.S. Attorney's Office

SEATTLE, Wash., Jan. 23, 2007-Cell Therapeutics, Inc. said in an SEC filing today it has reached an oral agreement in principal with the United States Attorney’s Office regarding the material terms of a settlement related to the USAO’s investigation of certain of the corporation’s business practices relating to (leukemia treatment) Trisenox, a product which Cell Therapeutics sold to Cephalon, Inc. for $71.9 million in July 2005. The company said it will make a single payment of $10.5 million.

The filing is attached.

Posted: January 2007