CTI BioPharma Gets $10 Mln Milestone Payment From Teva For TRISENOX

(RTTNews) - CTI BioPharma Corp. (CTIC) said that it has received a $10 million milestone payment from Teva Pharmaceutical Industries Ltd. (TEVA) related to the achievement of sales milestones for TRISENOX or arsenic trioxide.

TRISENOX was acquired from CTI BioPharma by Cephalon, Inc. Cephalon was subsequently acquired by Teva. The milestone was paid pursuant to an acquisition agreement for TRISENOX entered into with Cephalon under which CTI BioPharma is eligible to receive up to an additional $70 million in payments upon achievement by Teva of specified sales and development milestones related to TRISENOX.