RIGL · Rigel Pharmaceuticals, Inc.

Rigel Pharmaceuticals has secured exclusive worldwide rights to VEPPANU (vepdegestrant), an FDA-approved therapy for ER+, HER2-negative, ESR1-mutated advanced or metastatic breast cancer patients post-endocrine therapy progression. This license agreement with Arvinas entities and Pfizer positions Rigel to lead global development and commercialization, with Pfizer handling initial transition activities reimbursable up to $40 million. Financial terms include a $70 million upfront payment, $15 million transition milestone, and potential $320 million in regulatory and sales milestones, alongside mid-teens to mid-twenties tiered royalties on net sales. Rigel must apply commercially reasonable efforts for development, regulatory approvals in major markets, and commercialization, with the agreement lasting through royalty terms per product and country before becoming perpetual. Termination options exist for breach, insolvency, or Rigel's convenience, with standard protections for IP, indemnification, and confidentiality. Effectiveness hinges on HSR antitrust clearance, enabling Rigel to expand its oncology portfolio with a marketed asset.