Biopharmaceutical company Cell Therapeutics, Inc. (CTI) has received a $5 million milestone payment from Teva Pharmaceutical Industries Ltd. (Teva) related to the achievement of a sales milestone for Trisenox (arsenic trioxide). Trisenox was acquired from CTI by Cephalon, Inc. (Cephalon).
Cephalon was subsequently acquired by Teva. The milestone was paid pursuant to an acquisition agreement for Trisenox entered into with Cephalon under which CTI is eligible to receive up to an additional $95 million in payments upon achievement by Teva of specified sales and development milestones related to Trisenox.
CTI is committed to the development and commercialization of an integrated portfolio of oncology products aimed at making cancer more treatable.