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Cell Therapeutics Raises $30M

Eric Hal Schwartz 8/19/09

Seattle-based cancer drug developer Cell Therapeutics (NASDAQ: CTIC) announced in a press release today that it has raised $30 million by selling preferred stock and warrants to purchase shares of its common stock to a single institutional investor. The money will be used as operating capital by the company. The offer is expected to close on Monday.

Eric Hal Schwartz is an intern in Xconomy's Seattle office. He can be reached at eschwartz@xconomy.com.

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