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S*Bio Sells Myelofibrosis Treatment to Cell Therapeutics

publication date: Apr 23, 2012
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S*BIO, the Singapore-based pharma that is developing targeted small molecule drugs for cancer, sold the assets (including worldwide rights) surrounding its lead molecule to Cell Therapeutics of Seattle. Pacritinib is an oral JAK2 inhibitor that has completed Phase I and II trials for myelofibrosis. A global Phase III trial is scheduled to begin soon. To obtain control of pacritinib, Cell Therapeutics will pay S*Bio $15 million in cash and issue $15 million of preferred shares that are convertible into Cell Therapeutics common stock. More details....

Stock Symbol: (NSDQ: CTIC)

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