CELATOR ANNOUNCES TWO ADDITIONS TO SENIOR MANAGEMENT TEAM

Industry veterans John Bennett and Scott Jackson expand business and commercial development focus at Celator as company advances pipeline of combination chemotherapies.

Princeton, NJ (October 9, 2007) – Celator Pharmaceuticals, a biotechnology company working to develop combination chemotherapies to treat different types of cancer, today announced two new additions to the company’s senior management team. John Bennett has joined Celator as the new Head of Business Development, and Scott Jackson has joined the company as Head of Commercial Development.

As Head of Business Development, Mr. Bennett will be primarily responsible for creating and executing licensing opportunities related to the Celator CombiPlex™ Technology Platform. He has more than 20 years of experience in business development and finance in the biotechnology and pharmaceutical industries, including positions at YM BioSciences (formerly EXIMIAS Pharmaceutical Corporation), Aventis Behring and Rhone-Poulonc Rorer. He specializes in product licensing, transaction structuring, partner relations, joint ventures, and M&A and divestitures. He is a graduate of St. Joseph’s University and holds a B.A. in accounting.

Scott Jackson has nearly 20 years of pharmaceutical marketing and sales experience, including extensive commercialization activities for oncology products. At Celator he will develop and manage commercialization strategies for the company’s products. Previously Mr. Jackson was responsible for product marketing at YM BioSciences. Prior to that he held positions of increasing responsibility at Centocor (Johnson & Johnson), ImClone Systems, SmithKline Beecham, and Eli Lilly. He has an M.B.A. from The University of Notre Dame and a B.S. in pharmacy from the Philadelphia College of Pharmacy and Science.

“Both John and Scott bring extensive experience in pharmaceutical business development and product commercialization to Celator. As we continue to advance our pipeline and pursue additional product development and licensing opportunities based on our CombiPlex technology platform, their expertise will play a key role in positioning us for commercial success in the years ahead,” said Andrew Janoff, Ph.D., CEO of Celator Pharmaceuticals.

About Celator

Celator Pharmaceuticals, Inc., formerly Celator Technologies, Inc., is a privately held pharmaceutical company working to develop new and more effective therapies to treat cancer. CombiPlex, the company’s drug ratio technology platform, represents a revolutionary new approach to the development of combination therapies based on the optimal ratio of drug agents to target cancer cells effectively. The company pipeline includes: CPX-1, currently in a Phase 2 trial for the treatment of colorectal cancer; CPX-351, currently in a Phase 1 trial for the treatment for leukemia; CPX-571, positioned to advance to a Phase 1 trial for the treatment of small cell lung cancer; and multiple pre-clinical development programs. Based on the applications of CombiPlex, Celator is positioned to advance a broad pipeline of combination therapies involving both previously approved and novel drug agents.

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