EWING, N.J., March 29, 2016 /PRNewswire/ — Celator Pharmaceuticals, Inc. (Nasdaq: CPXX), a pharmaceutical company developing new and more effective therapies to treat cancer, today closed its previously announced underwritten public offering of 4,600,000 shares of the Company’s common stock, including 600,000 shares of common stock issued pursuant to the underwriters’ exercise of their option, at the public offering price of $9.50 per share. The gross proceeds of this offering were $43.7 million. Net proceeds to the Company, after deducting the underwriters’ discounts and commission and other estimated offering expenses payable by the Company, were approximately $40.6 million.

The Company intends to use the net proceeds received from the sale of the common stock to fund regulatory, manufacturing, commercial and clinical activities for VYXEOS™ and general corporate purposes, including working capital.

Stifel acted as the sole bookrunning manager for the offering. Needham & Company, acted as the lead manager, and Roth Capital Partners, H.C. Wainwright & Co. and National Securities Corporation acted as co-managers for the offering. MTS Health Partners, L.P. served as financial advisor to Celator for the offering.

The shares of common stock were offered by Celator pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”) on February 12, 2014 and a shelf registration filed under Rule 462(b) that was filed with the SEC and became effective on March 23, 2016. A final prospectus supplement and the accompanying prospectus relating to the offering has been filed with the SEC. Electronic copies of the prospectus supplement and accompanying prospectus relating to the offering can be obtained on the SEC’s website at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, California 94104, by calling (415) 364-2500 or by emailing SyndProspectus@stifel.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and shall not constitute an offer, solicitation or sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Celator Pharmaceuticals, Inc.

Celator Pharmaceuticals, Inc., with locations in Ewing, N.J., and Vancouver, B.C., is an oncology-focused biopharmaceutical company that is transforming the science of combination therapy, and developing products to improve patient outcomes in cancer. Celator’s proprietary technology platform, CombiPlex®, enables the rational design and rapid evaluation of optimized combinations of anti-cancer drugs, incorporating traditional chemotherapies as well as molecularly targeted agents to deliver enhanced anti-cancer activity. CombiPlex addresses several fundamental shortcomings of conventional combination regimens, as well as the challenges inherent in combination drug development, by identifying the most effective synergistic molar ratio of the drugs being combined in vitro, and fixing this ratio in a nano-scale drug delivery complex to maintain the optimized combination after administration and ensuring exposure of this ratio to the tumor. Celator’s lead product is VYXEOS™ (also known as CPX-351), a nano-scale liposomal formulation of cytarabine:daunorubicin in Phase 3 clinical testing for the treatment of acute myeloid leukemia. We have also conducted clinical development on CPX-1, a nano-scale liposomal formulation of irinotecan:floxuridine studied in colorectal cancer; and have a preclinical stage product candidate, CPX-8, a hydrophobic docetaxel prodrug nanoparticle formulation. More recently, the Company has advanced its CombiPlex platform and broadened its application to include molecularly targeted therapies. For more information, please visit Celator’s website at www.celatorpharma.com. Information on ongoing trials is available at www.clinicaltrials.gov.