CTI Biopharma cashes in milestone triggered $10 million from Teva
June 15, 2017CTI BioPharma has received a $10 million milestone payment from Teva Pharmaceutical Industries Ltd. related to the achievement of sales milestones for Trisenox (arsenic trioxide).
Trisenox was acquired from CTI BioPharma by Cephalon, Inc., which was subsequently acquired by Teva.
The milestone was paid upon the agreement that Trisenox entered into with Cephalon under which CTI BioPharma can get up to an additional $60 million in payments upon achievement by Teva of specified sales and development milestones related to Trisenox.
