Monday, September 28, 2009

Cell Therapeutics Closes Italian Branch

Seattle-based Cell Therapeutics reports today that it has finalized the closure of the firm's Bresso, Italy operations. The firm said it will receive $1.1M from sale of its assets, and will save approximately $20M in annual operating expenses for the sale. Cell Therapeutics has been working on a shutdown of the location since February. The facility had been focused on pre-clinical research for the company.