CTI BioPharma to Receive $10-Million Milestone
CTI BioPharma recently announced that it expects to receive a $10-million milestone payment in February 2018 from Teva Pharmaceutical Industries related to the achievement of a milestone for US Food and Drug Administration approval of TRISENOX (arsenic trioxide) for first line treatment of acute promyelocytic leukemia.
The milestone will be paid pursuant to an acquisition agreement for TRISENOX previously entered into with Teva under which CTI BioPharma is eligible to receive up to an additional $50 million in payments upon achievement by Teva of specified sales and development milestones related to TRISENOX.
CTI BioPharma Corp. is a biopharmaceutical company focused on the acquisition, development, and commercialization of novel targeted therapies covering a spectrum of blood-related cancers that offer a unique benefit to patients and healthcare providers. CTI BioPharma has a late-stage development pipeline, including pacritinib for the treatment of patients with myelofibrosis. CTI BioPharma is headquartered in Seattle, WA. For additional information and to sign up for email alerts and get RSS feeds, please visit www.ctibiopharma.com.
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