SOUTH SAN FRANCISCO, Calif.,
Sept. 9, 2015 /PRNewswire/ -- Rigel
Pharmaceuticals, Inc. (Nasdaq: RIGL) today announced that Aclaris
Therapeutics International Limited (ATIL), a wholly owned
subsidiary of Aclaris Therapeutics, Inc., and Rigel have entered
into an exclusive, worldwide license agreement for the development
and commercialization of specified Rigel JAK inhibitors for the
treatment of alopecia areata and other dermatological
conditions.
Under the license agreement, ATIL will assume responsibility for
the continued development of specified Rigel JAK inhibitor
compounds for the treatment of alopecia areata and other
dermatological conditions. Rigel will receive an upfront
payment of $8 million, and will be
eligible to receive various milestone payments of up to
$90 million based on global development and multiple
indications, as well as tiered royalties on any future sales of
these compounds.
"We are delighted to partner with Aclaris to strive to bring
hope to alopecia areata patients," said Raul R. Rodriguez, president and chief executive
officer of Rigel. "This partnership allows us to advance an
opportunity that is outside of Rigel's area of focus," he
added.
About Alopecia Areata
Alopecia areata is an autoimmune dermatologic condition,
typically characterized by patchy, non-scarring hair loss on the
scalp and body. The National Alopecia Areata Foundation
reports that over 6.6 million Americans have had or will develop
alopecia areata at some point in their lives. There is
currently no FDA-approved medical treatment for this autoimmune
disease. However, it has been reported that systemically
administered JAK inhibitors may be potentially efficacious in the
treatment of alopecia areata.
About Rigel
(www.rigel.com)
Rigel Pharmaceuticals, Inc. is a clinical-stage
biotechnology company focused on the discovery and development of
novel, small-molecule drugs for the treatment of immune diseases
and cancers. Rigel's pioneering research focuses on signaling
pathways that are critical to disease mechanisms. Rigel currently
has the following product candidates in development: fostamatinib,
an oral spleen tyrosine kinase (SYK) inhibitor, which is in Phase 3
clinical trials for ITP and a Phase 2 clinical trial for IgA
nephropathy (IgAN); R348, a topical ophthalmic JAK/SYK inhibitor,
in a Phase 2 clinical trial for dry eye in ocular graft-versus-host
disease (GvHD); two oncology product candidates in Phase 1
development with partners BerGenBio AG and Daiichi
Sankyo; and two preclinical programs with partners
AstraZeneca, for R256 in asthma, and Bristol-Myers Squibb, for TGF
beta inhibitors in immuno-oncology.
This release contains forward-looking statements relating to,
among other things, potential up-front, milestone and royalty
payments under the license agreement with Aclaris, Rigel's ability
to advance a drug candidate opportunity outside of its primary area
of focus, the belief that JAK inhibitors may be potentially
efficacious in the treatment of alopecia areata, and Rigel's
product pipeline and development programs. Any statements contained
in this press release that are not statements of historical fact
may be deemed to be forward-looking statements. Words such as
"planned," "will," "may," "expect," and similar expressions are
intended to identify these forward-looking statements. These
forward-looking statements are based on Rigel's current
expectations and inherently involve significant risks and
uncertainties. Actual results and the timing of events could differ
materially from those anticipated in such forward looking
statements as a result of these risks and uncertainties, which
include, without limitation, the availability of resources to
develop Rigel's product candidates, Rigel's need for additional
capital in the future to sufficiently fund Rigel's operations and
research, the uncertain timing of completion of and the success of
clinical trials, market competition, risks associated with and
Rigel's dependence on Rigel's corporate partnerships, as well as
other risks detailed from time to time in Rigel's reports filed
with the Securities and Exchange Commission, including its
Quarterly Report on Form 10-Q for the three months ended
June 30, 2015. Rigel does not
undertake any obligation to update forward-looking statements and
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein.
Contact: Ryan D. Maynard
Phone: 650.624.1284
Email: invrel@rigel.com
Media Contact: Susan C. Rogers,
Rivily, Inc.
Phone: 650.430.3777
Email: susan@rivily.com
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SOURCE Rigel Pharmaceuticals, Inc.