Biopharma Stock Cell Therapeutics (CTIC) Weekly Snapshot
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Point Roberts, WA, New York, NY - January 17, 2014 (Investorideas.com Newswire) Investorideas.com, a global news source and resource base for investors following leading sectors including biotech and pharma reports on market activity and recent news for Cell Therapeutics, Inc (CTIC).
Cell Therapeutics, Inc. (CTI) (NASDAQ and MTA: CTIC) announced earlier this week that it has reached an agreement with Novartis to reacquire rights to two anti-cancer compounds -- pixantrone (PIXUVRI®) and paclitaxel poliglumex (Opaxio™). Under the terms of the previous agreement, CTI has been responsible for development and commercialization activities and expenses for both compounds to date. Upon the effective date of termination, CTI will regain all rights that had been granted to Novartis. In exchange for Novartis' agreement to return such rights to CTI, CTI has agreed to make certain potential payments to Novartis based on sales of Opaxio and PIXUVRI and on any sublicense and certain other amounts payable to CTI.
About Cell Therapeutics, Inc.
CTI (NASDAQ and MTA: CTIC) is a biopharmaceutical company committed to the development and commercialization of an integrated portfolio of oncology products aimed at making cancer more treatable. CTI is headquartered in Seattle, WA. For additional information and to sign up for email alerts and get RSS feeds, please visit www.CellTherapeutics.com.
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