ARTICLE | Company News

Cell Therapeutics, Cephalon deal

June 20, 2005 7:00 AM UTC

CEPH acquired CTIC's Trisenox arsenic trioxide, which is marketed to treat acute promyelocytic leukemia (APL), for $70 million in cash. CEPH also gains sole rights to the companies' preclinical proteasome inhibitors to treat cancer. CTIC is eligible for up to $100 million in milestones for Trisenox, plus royalties on proteasome inhibitors. In 2004, Trisenox had $26.6 million in worldwide sales. CTIC will use a portion of the proceeds to repay Quintiles' PharmaBio Development. Under a December 2004 deal, PharmaBio provided $25 million in cash and $5 million in services in exchange for Trisenox royalties. ...