Cell Therapeutics Signs Deal With Norvatis

Cell Therapeutics (CTIC) has signed a worldwide licensing deal with Norvartis worth US$285M. This agreement will see Norvatis assisting in the development and commercialisation of Cell Therapeutics’ flagship drug, XYOTAX. The amount includes US$15M equity investment in the drug development company as well.

Cell Therapeutics traded up 13 cents or 6.67% on Monday to $2.08.

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