Eli Lilly, Rigel Pharma Sign Licensing, Collaboration Deal
February 18 2021 - 6:24AM
Dow Jones News
By Colin Kellaher
Eli Lilly & Co. on Thursday said it would receive an
exclusive worldwide license to Rigel Pharmaceuticals Inc.'s
receptor-interacting serine/threonine-protein kinase 1, or RIPK1,
inhibitors as part of a collaboration with the clinical-stage
biotechnology company.
Eli Lilly said it would make an up-front payment of $125 million
to Rigel, which would also be eligible for up to $835 million in
future development, regulatory and commercial milestones, along
with royalties on sales.
The Indianapolis drugmaker said the companies plan to co-develop
and commercialize Rigel's Phase 2-ready R552 inhibitor for all
indications, including autoimmune and inflammatory diseases.
Eli Lilly said it would also lead all clinical development of
brain-penetrating RIPK1 inhibitors in central-nervous-system
diseases.
Shares of South San Francisco, Calif.-based Rigel, which closed
Wednesday at $4.53, jumped more than 40% in premarket trading
Thursday.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 18, 2021 07:09 ET (12:09 GMT)
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