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CTI BioPharma Corporation
Drug Names(s): pixantrone, BBR 2778, aza-anthracenedione
Description: Pixantrone is an aza-anthracenedione analogue of Novantrone (mitoxantrone) developed to correct the cardiotoxicity seen with Novantrone. Like other anthracyclines, pixantrone inhibits topo-isomerase II. However, pixantrone alkylates (rather than intercalates) DNA, forming stable DNA adducts with particular specificity for CpG-rich, hyper-methlyated sites.
Cell Therapeutics and Novartis
In September 2006, Cell Therapeutics announced an exclusive worldwide licensing agreement with Novartis which provides Novartis with an option to develop and commercialize pixantrone based on agreed terms. If Novartis exercises its option on pixantrone under certain conditions, Novartis would pay CTI a $7.5M fee and up to $104M in registration and sales related milestones (including $10M upon FDA approval in 3rd line aNHL). Novartis would control future development and commercialization of pixantrone and would pay 100% of future expenses. CTI would be allowed to field 35 full time employees in the US at Novartis' expense up to $9M. Novartis would pay CTI royalties of 28.5% to 32.5% on net sales beyond $50 million.
On November 3, 2008, Cell Therapeutics announced that it provided notice to Novartis that the pixantrone data set was locked. Novartis may exercise the pixantrone option at any time until the later to occur of (i) 365 days after...See full deal structure in Biomedtracker
Partners: Clinigen Group plc Les Laboratoires Servier
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