Date: Jan 13, 2016 Source: PR Newswire (
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SEATTLE, Jan. 13, 2016 /PRNewswire/ -- CTI BioPharma Corp. (CTI BioPharma) (NASDAQ and MTA: CTIC) today announced that Matthew Perry, President of BVF Partners L.P. (BVF Partners) and CTI BioPharma's largest shareholder, has been appointed to the Board of Directors of CTI BioPharma.
"We are pleased to welcome Matthew Perry from BVF Partners, our largest shareholder, onto our Board at this exciting stage of our company's evolution," commented James A. Bianco, M.D., CTI BioPharma's President and Chief Executive Officer. "We plan for a very productive 2016 as we augment our capabilities and expand our commercial presence to the U.S. with the potential launch of pacritinib."
"We see substantial untapped value in CTI BioPharma and look forward to helping build it into a world-class oncology company," said Matthew Perry. "We are excited to support CTI BioPharma while it seeks to move pacritinib forward in myelofibrosis and leverage pacritinib's kinome profile to potentially branch into other blood-related malignancies. We believe that the Company's pipeline also contains high-quality programs like tosedostat, which holds promise for significant value creation for the Company in 2016 and beyond."
Mr. Perry is the President of BVF Partners and the co-portfolio manager for the underlying funds managed by the firm. BVF Partners is a private investment partnership that manages over $1 billion and focuses on small-cap, value oriented investment opportunities. Mr. Perry joined BVF Partners in December 1996 and has been a successful lead investor in dozens of transactions and has positively influenced corporate direction for over twenty years. Mr. Perry is also a co-founder and director of Nordic Biotech Advisors ApS, a venture capital firm based in Copenhagen, Denmark. He holds a B.S. degree from the Biology Department at the College of William and Mary.
About CTI BioPharma Corp.
CTI BioPharma Corp. (NASDAQ and MTA: CTIC) is a biopharmaceutical company focused on the acquisition, development and commercialization of novel targeted therapies covering a spectrum of blood-related cancers that offer a unique benefit to patients and healthcare providers. CTI BioPharma has a commercial presence in Europe with respect to PIXUVRI® and a late-stage development pipeline, including pacritinib, CTI BioPharma's lead product candidate, which is currently being studied in a Phase 3 program for the treatment of patients with myelofibrosis. CTI BioPharma is headquartered in Seattle, Washington, with offices in London and Milan under the name CTI Life Sciences Limited. For additional information and to sign up for email alerts and get RSS feeds, please visit www.ctibiopharma.com.
