CTI BioPharma, Baxalta Terminate Pacritinib Licensing Agreement - (StreetInsider via NewsPoints Desk)

  • CTI BioPharma revealed in a regulatory filing that it has ended an agreement granting Shire's Baxalta unit a licence to pacritinib, StreetInsider reported Monday.

  • Last month, the licencing agreement was amended to give the parties 30 days to negotiate and execute a definitive agreement reflecting the terms contained within a non-binding term.

  • After failing to reach an agreement, Baxalta returned all rights to the development and commercialisation of pacritinib.

  • Based on the terms of the agreement, Baxalta made a one-time payment of $10.3 million to reimburse expenses incurred or expected to be incurred.

  • FirstWord Reports: Providing insight, analysis and expert opinion on important Pharma trends and challenging issues <Click here>

To read more NewsPoints articles, click here.