SOUTH SAN FRANCISCO, Calif.,
April 7, 2021 /PRNewswire/ -- Rigel
Pharmaceuticals, Inc. (Nasdaq: RIGL) today announced the successful
closing of its license agreement with Eli Lilly and Company
(Lilly), following the expiration of the waiting period under the
Hart-Scott Rodino Antitrust Improvements Act of 1976. Rigel and
Lilly entered a global exclusive license agreement and strategic
collaboration to co-develop and commercialize Rigel's R552, a
receptor-interacting serine/threonine-protein kinase 1 (RIPK1)
inhibitor, for all indications including autoimmune and
inflammatory diseases. Pursuant to the collaboration, Lilly
will also lead all clinical development of penetrating RIPK1
inhibitors in central nervous system (CNS) diseases.
The agreement is effective as of March
27, 2021 and Rigel has received the $125 million
upfront cash payment due under the terms of the agreement from
Lilly. Additional details about the collaboration can be found in
Rigel's Form 8-K filed with the Securities and Exchange
Commission on February 18, 2021.
About Rigel (www.rigel.com)
Rigel Pharmaceuticals,
Inc., is a biotechnology company dedicated to discovering,
developing and providing novel small molecule drugs that
significantly improve the lives of patients with hematologic
disorders, cancer and rare immune diseases. Rigel's pioneering
research focuses on signaling pathways that are critical to disease
mechanisms. The company's first FDA approved product is
TAVALISSE® (fostamatinib disodium hexahydrate) tablets,
the only oral spleen tyrosine kinase (SYK) inhibitor, for the
treatment of adult patients with chronic immune thrombocytopenia
who have had an insufficient response to a previous treatment. The
product is also commercially available in Europe (TAVLESSE) and Canada (TAVALISSE) for the treatment of
chronic immune thrombocytopenia in adult patients.
Fostamatinib is currently being studied in a Phase 3 trial for
the treatment of warm autoimmune hemolytic anemia
(wAIHA)1; an NIH/NHLBI-sponsored Phase 2 trial for the
treatment of hospitalized COVID-191 patients, in
collaboration with Inova Health System; and a Phase 2 trial for the
treatment of COVID-19 being conducted by Imperial College London.
Additionally, Rigel has launched a Phase 3 clinical trial of
fostamatinib for the treatment of hospitalized COVID-19
patients.
Rigel's other clinical programs include its interleukin
receptor-associated kinase (IRAK) inhibitor program, and a
receptor-interacting serine/threonine-protein kinase (RIP1)
inhibitor program in clinical development with partner Eli Lilly
and Company. In addition, Rigel has product candidates in
development with partners AstraZeneca, BerGenBio ASA, and Daiichi
Sankyo.
1 The product for this use or indication is
investigational and has not been proven safe or effective by any
regulatory authority.
Rigel Investor Contact:
Phone: 650.624.1232
Email: ir@rigel.com
Rigel Media Contact:
Phone: 508-314-3157
Email: emily.correia@syneoshealth.com
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SOURCE Rigel Pharmaceuticals, Inc.