Baxter and Cell Therapeutics agree drug research alliance

Baxter and Cell Therapeutics have announced an exclusive worldwide licensing agreement in the field of oncology.

The deal will see the companies jointly developing and commercialising pacritinib, a novel investigational JAK2/FLT3 inhibitor with activity against genetic mutations linked to myelofibrosis, leukaemia and certain solid tumors.

Baxter and Cell Therapeutics will work together to market the product in the US, with Baxter assuming exclusive responsibility for international sales. The drug is currently in phase III testing as a treatment for myelofibrosis.

This agreement complements Baxter's existing oncology business and growing pipeline, while leveraging its global commercialisation capacity.

Dr Ludwig Hantson, president of Baxter BioScience, said: "As an established leader in haematology and rare diseases, we are committed to advancing novel therapies in an effort to broaden patient access to care."

This comes after Baxter completed patient enrolment for a phase III trial of BAX 855, a promising investigational therapy for haemophilia A, earlier this month.