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CTI BioPharma Corporation

Drug Names(s): Xyotax, Paclitaxel poliglumex, PPX, PG-TXL, CT-2103

Description: Opaxio is a polyglutamated, long-acting formulation of the chemotherapeutic agent paclitaxel. It prevent cell divsion (mitosis) by interfering with tubulin strands of microtubules.

Microtubules are cylindrical structures that form the basis of the cellular skeleton and are essential to the reproduction, growth, and spread of tumor cells. Normally, as a part of the mitotic process, microtubules are reorganized to form a spindle. Paclitaxel binds tubulin, promoting polymerization and preventing de-polymerization of microtubules, resulting in cell death.

Deal Structure: In October 2001, Cell Therapeutics entered into a licensing agreement with Chugai Pharmaceutical Co., Ltd. for the development and commercialization of Opaxio. This agreement grants an exclusive license to Chugai to develop and commercialize Opaxio in several Asian markets. Upon execution of the agreement, Chugai paid Cell Therapeutics a $3.0 million initial payment. Under the agreement, Cell Therapeutics may receive milestone payments totaling up to $16.0 million upon Chugais achievement of certain product development milestones, and Cell Therapeutics is entitled to receive royalties on product sales in the territories covered under the agreement. Chugai has also committed to incur up to $54 million in development expenditures over the course of the licensing agreement.

In September 2006, Cell Therapeutics (CTI) announced an exclusive worldwide licensing agreement with Novartis for the development and commercialization of Opaxio. Total product registration and sales...See full deal structure in Biomedtracker

Partners: Chugai Pharmaceutical Co., Ltd.

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