CTI BioPharma Receives $15-Million Milestone
CTI BioPharma Corp. recently announced that it has received a $15-million milestone payment from Teva Pharmaceutical Industries Ltd. (Teva) related to the achievement of sales milestones for TRISENOX (arsenic trioxide). TRISENOX was acquired from CTI by Cephalon, Inc. (Cephalon). Cephalon was subsequently acquired by Teva. The milestone was paid pursuant to an acquisition agreement for TRISENOX entered into with Cephalon under which CTI is eligible to receive up to an additional $80 million in payments upon achievement by Teva of specified sales and development milestones related to TRISENOX.
CTI BioPharma Corp. (NASDAQ and MTA: CTIC) 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 has a commercial presence in Europe and a late-stage development pipeline, including pacritinib, CTI’s lead product candidate that is currently being studied in a Phase III program for the treatment of patients with myelofibrosis. CTI is headquartered in Seattle, WA, with offices in London and Milan under the name CTI Life Sciences Limited. For more information, visit www.ctibiopharma.com.
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