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$30M Up Front to S*Bio

Cell Therapeutics Lands Sweet Deal for JAK Drug

By Jennifer Boggs
Managing Editor

Friday, April 20, 2012
Seattle-based Cell Therapeutics Inc. nabbed worldwide rights to Phase III-ready JAK2 inhibitor pacritinib from S*Bio Pte Ltd., of Singapore, for a relatively modest up-front payment of $30 million – half of that in convertible preferred stock – and up to $132.5 million in regulatory and sales milestones if the drug lives up to its full potential.

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