Servier and CTI BioPharma Corp. jointly announced that they will expand their existing license and development collaboration agreement for PIXUVRI (pixantrone).
Under the expanded agreement, Servier will have rights to commercialize PIXUVRI in all markets except the US, where CTI BioPharma will retain the commercialization rights. Servier will pay CTI BioPharma €12 million with the potential for CTI BioPharma to receive €76 million in additional sales and regulatory milestone payments as well as royalties on net product sales.
Servier Head of Therapeutic Area Oncology, Marion Schrenk, MD said that over the past three years, they have worked hand in hand with our partner, CTI BioPharma, to bring new treatment options to patients in Europe. They are looking forward to leveraging their expertise in these additional markets to ensure more eligible patients have access to PIXUVRI. Oncology is an important focus for them, and they are fully committed to working with their partners, researchers and scientists to provide patients with novel therapeutic options in areas with high unmet needs.
Servier is an important strategic partner for them and has helped bring PIXUVRI to many patients. CTI BioPharma President and CEO, Adam R. Craig said that they look forward to their expanded partnership as they aim to complete the PIX306 trial in the near-term.