SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________
SCHEDULE 13G
Information Statement pursuant to Rules 13d-1 and 13d-2
Under the Securities Exchange Act of 1934
(Amendment No. 1)
Cell Therapeutics, Inc.
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(Name of Issuer)
Common Stock, no par value
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(Title of Class of Securities)
0001509341
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(CUSIP Number)
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CUSIP No. 0001509341 Page # of 4 Pages
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1) Name of Reporting Person International
S.S. or I.R.S. Identification Biotechnology
No. of Above Person Trust plc
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2) Check the Appropriate Box (a) [ ]
if a Member of a Group (b) [ ]
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3) SEC Use Only
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4) Citizenship or Place United Kingdom
of Organization
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Number of Shares 5) Sole Voting 1,316,098 shares
Beneficially Power of Common Stock,
Owned by Each no par value
Reporting Person ("Common Stock")
With: ________________________________________
6) Shared Voting
Power -0-
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7) Sole Disposi- 1,316,098 shares
tive Power of Common Stock
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8) Shared Dis-
positive Power -0-
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9) Aggregate Amount Beneficially 1,316,098 shares
Owned by Each Reporting Person of Common Stock
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10) Check if the Aggregate
Amount in Row (9)
Excludes Certain Shares
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11) Percent of Class
Represented by 8.6%
Amount in Row (9)
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12) Type of Reporting
Person PN
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CUSIP No. 0001509341 Page # of 4 Pages
Amendment No. 1 to Schedule 13G
_______________________________
Reference is hereby made to the statement on Schedule 13G
originally filed with the Securities and Exchange Commission on February
12, 1997 (the "Schedule 13G"). Terms defined in the Schedule 13G are used
herein as so defined.
The Schedule 13G is hereby amended as follows:
Item 2(d) - Title of Class of Securities:
Common Stock, no par value
Item 2(e) - CUSIP Number:
0001509341
Item 4 - Ownership.
(a) Amount Beneficially Owned: 1,316,098 shares of Common
Stock
(b) Percent of Class: 8.6%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 1,316,098
shares of Common Stock
(ii) shared power to vote or to direct the vote: -0-
(iii) sole power to dispose or to direct the disposition of:
1,316,098 shares of Common Stock
(iv) shared power to dispose or to direct the disposition
of: -0-
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CUSIP No. 0001509341 Page # of 4 Pages
Signature:
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
INTERNATIONAL BIOTECHNOLOGY TRUST PLC
By /s/ Jeremy L. Curnock Cook
_____________________________________
Director
Dated: January 27, 1998
