Arvinas & Pfizer License VEPPANU to Rigel for $85M Upfront, $320M Milestones
Arvinas and Pfizer have entered into a license agreement with Rigel Pharmaceuticals for the exclusive global development, manufacturing, and commercialization rights to VEPPANU (vepdegestrant), an FDA-approved PROTAC estrogen receptor degrader for advanced breast cancer. Under the terms, Rigel will pay Arvinas and Pfizer an aggregate of $70 million upfront and an additional $15 million upon completion of transition activities, totaling $85 million. The agreement also includes up to $320 million in potential development, regulatory, and commercial milestone payments, plus tiered royalties on worldwide net sales. Rigel will be responsible for the U.S. launch and commercialization, while Arvinas and Pfizer will contribute to ongoing development activities, with Rigel contributing up to $40 million towards these.
Key Highlights
- Arvinas and Pfizer licensed exclusive global rights for VEPPANU to Rigel Pharmaceuticals.
- Rigel will pay Arvinas and Pfizer an aggregate upfront payment of $70 million.
- An additional $15 million will be paid upon completion of development and manufacturing transition activities.
- Potential for up to $320 million in future development, regulatory, and commercial milestone payments.
- Tiered royalties in the mid-teens to mid-20s on worldwide net sales of VEPPANU.
- Rigel will contribute up to $40 million towards ongoing development activities by Arvinas and Pfizer.
- VEPPANU was recently added to NCCN Clinical Practice Guidelines for Breast Cancer as a Category 2A option.