Tucson cancer-drug firm inks key licensing deal

Tucson-based Cancer Prevention Pharmaceuticals Inc. has signed an exclusive licensing agreement with a Swiss drug company for European and Japanese rights to develop and commercialize a gastrointestinal-cancer-prevention drug.

The local Desert Angels portfolio company could get payments of more than $100 million over time for hitting drug development and sales milestones, as part of its agreement with Tillotts Pharma AG, a wholly owned subsidiary of Tokyo-based Zeria Pharmaceutical Co. Ltd., Cancer Prevention Pharmaceuticals said.

For more: Tucson cancer-drug firm inks key licensing deal