Shire returns rights to CTI's pacritinib

Shire plc (LSE:SHP; NASDAQ:SHPG) terminated a license agreement with CTI Biopharma Corp. (NASDAQ:CTIC; Milan:CTIC) and returned worldwide development and commercialization rights to myelofibrosis candidate pacritinib ( BAX 2201).

Pacritinib is an orally available dual inhibitor of Janus kinase-2 (JAK-2) and FMS-like tyrosine kinase 3 ( FLT3; CD135). Shire gained rights to the candidate via its acquisition of Baxalta Inc., which had obtained rights from CTI for $60 million up front in 2013. ...