DealsJun 16, 2026, 04:32 PM
Arvinas' VEPPANU License Effective; Receives $70M Upfront Payment
AI Summary
Arvinas, Inc., Pfizer Inc., and Rigel Pharmaceuticals, Inc. received early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, making their license agreement for VEPPANU (vepdegestrant) effective. As a result, Rigel has paid a $70.0 million upfront payment to Arvinas and Pfizer. The companies are also eligible for an additional $15.0 million upon successful completion of transition activities, up to $320.0 million in contingent milestone payments, and tiered royalties on worldwide net sales. All payments will be split evenly between Arvinas and Pfizer.
Key Highlights
- HSR clearance granted for the VEPPANU license agreement, making it effective.
- Rigel Pharmaceuticals paid a $70.0 million upfront payment to Arvinas and Pfizer.
- Arvinas and Pfizer are eligible for an additional $15.0 million upon transition activities.
- Potential to receive up to $320.0 million in future development, regulatory, and commercial milestones.
- Eligible for tiered royalties in the mid-teens to mid-20s on worldwide net sales of VEPPANU .
- All payments under the License Agreement will be distributed evenly between Arvinas and Pfizer.
Price Impact
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