Spectrum and Cell Thera close deal for JV to market Zevalin
US firms Spectrum Pharmaceuticals and Cell Therapeutics have closed their deal to form a 50/50 joint venture, RIT Oncology, to market Zevalin ([90Y]-ibritumomab tiuxetan; Marketletter December 8) in the USA. Cell Therapeutics has received an initial payment of $7.5 million, with an additional $7.5-million milestone to be payed to the firm in early January and is set to get a total of $15.0 million in payments on the achievement of certain revenue targets.
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