CTI BioPharma To Get $10 Mln Milestone Payment For TRISENOX

(RTTNews) - CTI BioPharma Corp. (CTIC) said that it expects to receive a $10 million milestone payment in February, 2018 from Teva Pharmaceutical Industries Ltd. related to the achievement of a milestone for U.S. Food and Drug Administration approval of TRISENOX or arsenic trioxide for first line treatment of acute promyelocytic leukemia.

The milestone will be paid pursuant to an acquisition agreement for TRISENOX previously entered into with Teva under which CTI BioPharma is eligible to receive up to an additional $50 million in payments upon achievement by Teva of specified sales and development milestones related to TRISENOX.