With an EU regulatory approval looking imminent for Pixuvri (pixantrone) and Phase III trials ongoing for that drug as well as tosedostat, CTI BioPharma Corp. might appear to have more than enough activity at the moment. But on April 19, it paid $30 million upfront to SBIO Pte. Ltd. for global rights to JAK2 inhibitor pacritinib, giving the Seattle-based biotech three Phase III candidates in blood cancer.
CTI will pay S*BIO $15 million in cash and issue $15 million in unregistered preferred stock convertible to common stock – giving the Singapore firm nearly a 5% interest in its partner – and could pay milestones up to $132 million and single-digit sales royalties in exchange for the Phase III-ready myelofibrosis (MF) candidate
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