Cell Therapeutics licenses global Xyotax rights to Novartis
USA-based Cell Therapeutics has granted an exclusive worldwide development and commercialization licensing agreement to Swiss drug major Novartis for Xyotax (poliglumex paclitaxel), its investigational agent in Phase III for the treatment of non-small cell lung cancer and other cancers. Total product registration and sales milestones for Xyotax under the agreement could reach as much as $270.0 million. Novartis has also agreed to make a $15.0 million equity investment in CT, which will have the option of co-detailing the agent in the USA.
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