Galena Biopharma, Sentynl Therapeutics deal

Sentynl purchased U.S. rights to Abstral fentanyl from Galena. Galena will receive $8 million up front and is eligible for up to $4 million in sales milestones. Galena said it is divesting to focus on its immunotherapy pipeline. In 2013, the company acquired U.S. marketing rights to Abstral from Orexo AB (SSE:ORX, Uppsala, Sweden) for $15 million in cash plus potential undisclosed milestones and low, double-digit royalties. Sentynl will assume the obligations to Orexo under the 2013 deal (see BioCentury, March 25, 2013). ...