CTI BioPharma earns $10 million milestone payment from Teva for TRISENOX (arsenic trioxide)

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Dec 14 2015CTI BioPharma Corp.

CTI BioPharma Corp. (NASDAQ and MTA: CTIC) today announced that it has received a $10 million milestone payment from Teva Pharmaceutical Industries Ltd. (Teva) related to the achievement of sales milestones for TRISENOX® (arsenic trioxide). TRISENOX was acquired from CTI BioPharma 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 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.

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CTI BioPharma Corp.

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