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Cell Therapeutics plans spin-off

Mon Feb 12, 2007 7:50am EST

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NEW YORK, Feb 12 (Reuters) - Cell Therapeutics Inc. (CTIC.O) said on Monday it plans to form a spin-off company to focus on a technology that it created to speed up the development of new treatments.

Aequus BioPharma will use the company's Genetic Polymer technology to extend the plasma half-life of therapeutic proteins, which Cell Therapeutics said it hopes will lower the cost for developing next-generation biologics, such as chemotherapy-related treatment Neulasta or anemia drug Aranesp.

((Reporting by Christopher Kaufman, editing by John Wallace; New York Equities Desk; +1 646 223 6044)) Keywords: CELLTHERAPEUTICS/

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