Cell Therapeutics regains rights to Pixuvri and Opaxio from Novartis

Cell Therapeutics, Inc. announced that it has reached an agreement with Novartis to reacquire rights to two anti-cancer compounds -- pixantrone (Pixuvri) and paclitaxel poliglumex (Opaxio). Under the terms of the previous agreement, CTI has been responsible for development and commercialization activities and expenses for both compounds to date. Upon the effective date of termination, CTI will regain all rights that had been granted to Novartis. In exchange for Novartis' agreement to return such rights to CTI, CTI has agreed to make certain potential payments to Novartis based on sales of Opaxio and Pixuvri and on any sublicense and certain other amounts payable to CTI.