Cell Therapeutics raises $25M

Cell Therapeutics Inc. said it's raised $25 million by selling stock to a single, unnamed investor. The Seattle biotech (NASDAQ: CTIC) said the investor now owns 9.7 percent of the company. In a filing with the Securities and Exchange Commission , Cell Therapeutics said the investor also has a right to buy up to $25 million additional shares. According to company officials, they intend to use the net proceeds from the offering "for general corporate purposes, which may include, among other...

Source: http://feeds.bizjournals.com/~r/bizj_seattle/~3/7XRI3e07-rI/cell-therapeutics-raises-25m.html

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