Cell Therapeutics Signs Financing Agreement

| 22 Jun 2006 | Posts | 1,007 views

Cell Therapeutics (CTIC) has entered a financing agreement with Societe Generale Group for the French bank to buy $55M new shares to trade on the Italian stock exchange.

Societe Generale Group will have the option to purchase an additional $17M over the next 24 months.

CTIC is a biotechnology company that develops drugs to combat cancer and related conditions. It’s flagship product, XYOTAX, is undergoing trails for approval and sale.

Source: The Associated Press

http://news.moneycentral.msn.com/provider/providerarticle.asp?feed=AP&Date=20060621&ID=5812747>

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