Cytogen deal

CYTO announced terms of a previously announced agreement to terminate Knoll Pharmaceutical's rights to co-promote CYTO's OncoScint CR/OV in the U.S.

CYTO (Princeton, N.J.) will pay Knoll $3 million over a four-year period to reacquire U.S. rights to the colorectal and ovarian cancer diagnostic agent. CYTO also will pay $5 million over four years to cover expenses previously incurred under the agreement, $4.3 million of which has been expensed and is reflected in CYTO's current liabilities. Knoll will continue to provide warehousing, shipping and invoicing services to CYTO. ...