8/8/2008

GPC Biotech announced that Celgene terminated their development and licensing deal for satraplatin, a cancer medicine. The move allows GPC to regain marketing rights in countries included in the agreement, including Australia and Turkey. GPC CEO Bernd Seizinger expressed disappointment in Celgene's decision but said the company will soon determine the next steps in satraplatin's development.

Full Story:
Bloomberg

Related Summaries