Rigel Secures VEPPANU License with $70M Upfront, $320M Milestones
Rigel will pay $70M upfront plus $320M in milestones for exclusive global rights to VEPPANU, the first FDA-approved PROTAC for ER+/HER2-, ESR1-mutated breast cancer. Phase 3 VERITAC-2 showed median PFS of 5.0 vs. 2.1 months—a 43% risk reduction—as VEPPANU becomes Rigel’s fourth commercial product and core revenue driver.
1. Licensing Agreement Details
Rigel entered an exclusive global licensing agreement with Arvinas and Pfizer to develop, manufacture and commercialize VEPPANU for ER+/HER2-, ESR1-mutated breast cancer. The deal includes a $70 million upfront payment, $15 million upon transition completion and up to $320 million in regulatory and commercial milestones.
2. Clinical Trial Results
In the pivotal Phase 3 VERITAC-2 trial, VEPPANU demonstrated a median progression-free survival of 5.0 months versus 2.1 months for fulvestrant, representing a 43% reduction in risk of progression or death. The safety profile was generally well-tolerated, with most adverse events grade 1–2.
3. Commercial and Financial Impact
VEPPANU will become Rigel’s fourth commercial product, leveraging its existing U.S. sales and medical affairs infrastructure. Management expects the asset to accelerate revenue growth and fit within its transformative growth strategy targeting underserved metastatic breast cancer patients.
4. Next Steps and Milestones
Rigel plans a conference call to discuss the transaction and clinical data today at 8:00 a.m. Eastern. The transaction is subject to regulatory clearance, and Rigel will work to meet PDUFA and transition milestones to unlock future potential payments.