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Pharmaceuticals
Novartis gets cancer license
September 25, 2006
| A version of this story appeared in
Volume 84, Issue 39
Cell Therapeutics Inc. and Novartis have signed a licensing agreement under which Novartis will develop and commercialize CTI's Xyotax, a treatment currently in Phase III clinical trials for non-small-cell lung cancer and other cancers. CTI could receive as much as $270 million in product registration and milestone payments; Novartis has agreed to make a $15 million equity investment in the biotech company.
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