DealsMay 12, 2026, 05:31 PM
Rigel Pharma Licenses VEPPANU Worldwide; $70M Upfront
AI Summary
Rigel Pharmaceuticals has entered into an exclusive, worldwide license agreement with Arvinas and Pfizer for VEPPANU (vepdegestrant), an FDA-approved treatment for ER+, HER2-negative, ESR1-mutated advanced or metastatic breast cancer. Under the agreement, Rigel will pay an upfront fee of $70 million, with an additional $15 million for transition activities. The deal also includes up to $320 million in potential regulatory and sales milestones, tiered royalties on net sales, and up to $40 million in development cost reimbursements.
Key Highlights
- Rigel acquired exclusive worldwide rights to VEPPANU from Arvinas and Pfizer.
- VEPPANU is approved in the US for ER+, HER2-negative, ESR1-mutated advanced or metastatic breast cancer.
- Rigel will make an upfront payment of $70 million.
- An additional $15 million is due upon completion of certain transition activities.
- Potential regulatory and sales milestones total up to $320 million.
- Rigel will pay tiered royalties on net sales, ranging from mid-teens to mid-twenties percentages.
- Rigel will reimburse Licensors up to $40 million for ongoing development costs.
- The agreement is subject to the Hart-Scott-Rodino Antitrust Improvements Act.