CTI BioPharma, Servier deal

CTI granted Servier exclusive rights to develop and commercialize Pixuvri pixantrone outside of the U.S. and certain EU countries. CTI and its partners retain commercialization rights in the U.S., Austria, Denmark, Finland, Germany, Israel, Norway, Sweden, Turkey and the U.K., while Servier has exclusive rights in all other countries. CTI will receive $18.1 million up front and is eligible for about $63 million in clinical and regulatory milestones, including $12 million payment upon completion of enrollment in the post-marketing Phase III PIX306 trial, which is slated for 4Q15. CTI is also eligible for about $52 million in sales milestones, plus low double-digit to mid-twenties tiered royalties. ...