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Cell Therapeutics names Bayer executive as president

By Associated Press
April 24, 2008 | Comments (0)

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Biopharmaceutical company Cell Therapeutics Inc. said Thursday it named Craig W. Philips, most recently vice president and general manager of Bayer Healthcare Oncology, as president.

Philips will have direct responsibility for all development and commercial operations, effective Aug. 1. Current president, James Bianco, will remain chief executive.

"We have made a significant investment in our cancer drug pipeline which is now poised to seek multiple product approvals and potentially drive significant sales growth," Bianco said in a statement. "We believe this is the right time to bring on a seasoned executive like Craig."

Cell Therapeutics currently markets Zevalin in the U.S., a drug for treating relapsed follicular non-Hodgkin's lymphoma, has submitted an application for approval for its lung cancer drug Xyotax in Europe, and expects final data on another late-stage drug, pixantrone, for relapsed or refractory aggressive non-Hodgkin's lymphoma at the end of this summer.

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