Rigel Seals $70M VEPPANU License Deal, Plans August Commercial Launch
RIGL•RIGL•RIGL•RIGL•Rigel closed its global license agreement for VEPPANU on June 11, following early Hart-Scott Rodino approval, and paid a $70.0 million upfront fee to Arvinas and Pfizer. The company expects to launch VEPPANU for estrogen receptor-positive, HER2-negative, ESR1-mutated advanced breast cancer in August.
Rigel finalized its exclusive global license for VEPPANU effective June 11, following acceleration of the Hart-Scott Rodino waiting period and completion of customary closing conditions.
The agreement required an upfront payment of $70.0 million, which Rigel distributed evenly between Arvinas and Pfizer as specified in the licensing terms.
VEPPANU is approved for adults with estrogen receptor-positive, HER2-negative, ESR1-mutated advanced or metastatic breast cancer after at least one line of endocrine therapy, and Rigel plans to initiate commercial sales in August.
