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CTI BioPharma Receives $10M Milestone from Teva

The payment was triggered by the achievement of sales milestones for TRISENOX (arsenic trioxide)

CTI BioPharma Corp has received a $10 million milestone payment from Teva Pharmaceutical 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 $40 million in payments upon achievement by Teva of specified sales and development milestones related to TRISENOX.

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