Spectrum Receives $16 Million in Payments
From Associated Press (January 29, 2010)
IRVINE, Calif.--Spectrum Pharmaceuticals Inc. said Friday it received a $16 million in payments from partners in Asia.
The company said it received $15 million from Nippon Kayaku in connection with the partnership on the potential bladder cancer treatment apaziquone, or EOquin. Spectrum said it also received $1 million from Handok Pharmaceuticals.
The company also has a partnership deal with Allerga n Inc. on the drug for North America, Europe and other key markets.
Under the deals, Spectrum is also eligible to receive potential
milestone payments of up to $450 million for clinical development,
regulatory, and commercial goals. Spectrum will also receive
royalties on all sales outside the U.S.
Posted: January 2010