Eli Lilly enters into $960 million deal with Rigel Pharma to develop autoimmune therapy
Under the deal, Lilly will foot the costs of global commercialisation for the therapy, R552, and Rigel will have the right to co-sell the treatment in the US
Eli Lilly will gain exclusive worldwide license to Rigel Pharmaceuticals’ autoimmune and inflammatory diseases treatment, including its lead candidate, R552, for potentially up to $960 million, the companies informed.
Rigel will receive an upfront cash payment of $125 million, with the potential for an additional up to $835 million in milestone payments.
R552 belongs to a class of drugs called RIPK1 inhibitors which target a critical signaling protein that regulates inflammation and cell death in tissues. It is a new approach to treat various autoimmune, inflammatory, and neurodegenerative disorders.
Under the deal, Lilly will foot the costs of global commercialisation for the therapy, R552, and Rigel will have the right to co-sell the treatment in the US.
Lilly will also lead all clinical development and commercialisation of the treatment in central nervous system diseases.
Rigel’s lead therapy has completed early-stage trials and will begin mid-stage trials this year.
(Edits by EP News Bureau)
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