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ARVN-News
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Rigel Pharmaceuticals Closes License Agreement for VEPPANU with Arvinas and Pfizer
Rigel Pharmaceuticals announced the closing of its license agreement for VEPPANU, or vepdegestrant, following the early termination of the waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976 and satisfaction of other customary closing conditions. Rigel previously announced it entered into an exclusive, global license agreement with Arvinas (ARVN) and Pfizer (PFE) to develop, manufacture and commercialize VEPPANU. VEPPANU is approved by the FDA for the treatment of adults with estrogen receptor-positive/human epidermal growth factor receptor 2-negative-estrogen receptor 1-mutated advanced or metastatic breast cancer, as detected by an FDA-authorized test, with disease progression following at least one line of endocrine therapy. The agreement is effective as of June 11 and Rigel has made the upfront payment of $70.0M to be distributed evenly between Arvinas and Pfizer, consistent with the terms of the agreement. Rigel expects to make VEPPANU commercially available in August.
Rigel Enters Exclusive Licensing Agreement with Pfizer
After Rigel Pharmaceuticals (RIGL) announced it has entered into an exclusive global licensing agreement with Pfizer (PFE) and Arvinas (ARVN) for Veppanu for the treatment of ER+/HER2-, ESR1-mutated advanced or metastatic breast cancer following at least one line of therapy, H.C. Wainwright said Pfizer's decision to hand off to Rigel "makes strategic sense" given that the Phase 3 data support a more focused ESR1-mutated opportunity rather than the broader all-comer ER+/HER2- market. For Rigel, "even a meaningful share of this focused market could be highly impactful," says the analyst, who reiterates a Buy rating and $57 price target on Rigel shares.
Arvinas and Pfizer Enter Exclusive License Agreement for Veppanu
Arvinas (ARVN) and Pfizer (PFE) have entered into a license agreement with Rigel Pharmaceuticals (RIGL) for the exclusive global development, manufacturing, and commercialization rights for Veppanu. Veppanu is the first FDA approved PROteolysis TArgeting Chimera, a type of heterobifunctional protein degrader. Under the terms of the agreement, Arvinas and Pfizer will receive an upfront payment of $70M and an additional $15M upon successful completion of select development and manufacturing transition activities, to be distributed evenly between Arvinas and Pfizer. Arvinas and Pfizer will also be eligible to receive up to $320M in future development, regulatory, and commercial milestone payments, as well as tiered royalties on net sales in the mid-teens to mid-20s, distributed evenly between Arvinas and Pfizer. Rigel will be responsible for the launch and commercialization of Veppanu in the U.S. and will own global rights with the ability to sublicense to potential partners to further develop and commercialize Veppanu outside of the U.S. Arvinas and Pfizer will be entitled to a percentage of sublicensing revenue generated outside the U.S. Arvinas and Pfizer will continue to be responsible for current ongoing development activities and Rigel will contribute up to $40M towards these activities. Closing of the transaction is subject to the parties' receipt of any necessary consents or approvals, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.
Arvinas Reports Q1 Revenue of $15.6M
Reports Q1 revenue $15.6M, consensus $34.84M. "The approval of VEPPANU is a defining achievement for Arvinas and reflects the culmination of more than a decade of focused work to translate our PROTAC science into our first approved therapy," said Randy Teel, President and Chief Executive Officer at Arvinas. "I'm proud to lead an organization advancing an industry-leading portfolio of degraders - one that has now joined the short list of those able to bring a new therapeutic modality from discovery to approval. As we move through the remainder of the year, our focus is on delivering key data and clinical milestones that we believe will further validate our approach and clearly distinguish our programs in an increasingly competitive environment."
Rigel Pharmaceuticals Enters Global License Agreement for VEPPANU with Arvinas and Pfizer
Rigel Pharmaceuticals (RIGL) announced that it has entered into an exclusive, global license agreement with Arvinas (ARVN) and Pfizer (PFE), subject to regulatory clearance, to develop, manufacture and commercialize VEPPANU, the first and only U.S. FDA-approved oral PROteolysis TArgeting Chimera. PROTACs are part of a new class of heterobifunctional protein degraders designed to harness the body's natural machinery to selectively degrade, rather than inhibit, disease-causing proteins. Under the terms of the agreement, Rigel will be granted exclusive global rights to develop, manufacture and commercialize VEPPANU. Arvinas and Pfizer will receive an upfront payment of $70M and an additional $15M upon successful completion of certain development and manufacturing transition activities, to be distributed to Arvinas and Pfizer. Pfizer and Arvinas will continue to be responsible for current ongoing development activities and Rigel will contribute up to $40M towards certain development activities over the next four years. Arvinas and Pfizer are entitled to receive tiered royalties on commercial sales of VEPPANU ranging from mid-teens to mid-twenties. Arvinas and Pfizer are also eligible to receive a total of up to an additional $320M in connection with the achievement of certain regulatory and commercial milestones. Rigel will be responsible for the launch and commercialization of VEPPANU in the U.S. and has global rights with the ability to sublicense to potential partners to further develop and commercialize vepdegestrant outside the U.S. Arvinas and Pfizer will be entitled to a percentage of sublicensing revenue generated outside the U.S. The effectiveness of the agreement is subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act, and is expected to close in mid-June 2026.
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