Irvine drug maker Spectrum Pharmaceuticals Inc. said Thursday that it is seeking arbitration in a dispute with its German partner.
The dispute with GPC Biotech AG is over a licensing deal for satraplatin, a prostate cancer drug candidate.
Spectrum filed its demand with the American Arbitration Association and charges GPC excluded it from sublicensing fees from Pharmion GMBH, another German company that works with Spectrum and GPC on the drug.
GPC has received $37 million from Pharmion and has a commitment for $22 million more, according to Spectrum.
The charges are grounds for terminating the deal and receiving full rights to satraplatin, Spectrum said.
GPC fired back, saying Spectrum’s claims were made in bad faith and inconsistent with the licensing deal. It said it plans counterclaims against Spectrum.
Shares of Spectrum and the other two companies jumped more than 20% in one day back in September when they said satraplatin used with Prednisone, a steroid, lowered the risk of prostate cancer progressing by 40%.
