Seattle biotech company Cell Therapeutics Inc. (NASDAQ: CTIC) plans to lay off 34 employees in connection with its recent sale of its 50 percent ownership interest in its Zevalin joint venture, the company said in a regulatory filing Friday.

Struggling Cell Therapeutics on Feb. 20 said it sold the ownership interest in Zevalin to Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI) for $18 million. Zevalin is a cancer drug aimed at treating certain kinds of non-Hodgkinâ?Ts lymphoma.

Cell Therapeutics said it had eliminated 20 jobs and planned another 14 layoffs. All the employees were directly or indirectly involved with Zevalin, the company said.

Source:http://www.bizjournals.com/seattle/stories/2009/03/02/daily71.html?ana=from_rss

that's not good. who will be next :'(