GAVRETO® Acquisition “Compelling Addition to Commercial Portfolio” for Rigel
Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) has acquired the US rights to GAVRETO® (pralsetinib) from Blueprint Medicines Corporation. GAVRETO is a once daily, small molecule, oral, kinase inhibitor of wild-type RET (rearranged during transfection) for the treatment of adult patients with metastatic RET fusion-positive non-small cell lung cancer (NSCLC).
Under the terms of the agreement, Blueprint will receive a purchase price of $15.0 million. Blueprint is also eligible to receive up to $97.5 million in future commercial milestone payments and up to $5.0 million in future regulatory milestone payments, in addition to tiered royalties ranging from 10% to 30%.
Raul Rodriguez, Rigel’s President and CEO, said, “We are excited about this transaction, as we continue to realize our corporate strategy to grow our hematology and oncology business while leveraging our existing commercial and medical affairs infrastructure and expertise. GAVRETO is the third commercial product in our portfolio, supporting top line growth and our commitment to providing differentiated therapies to patients in need.”
Highlights
GAVRETO is also approved for the treatment of adult and pediatric patients 12 years of age and older with advanced or metastatic RET fusion-positive thyroid cancer.
GAVRETO is one of only two approved RET inhibitors on the market for patients.
Rigel stated that the addition of GAVRETO will be highly synergistic with the company’s current product portfolio, leveraging its existing commercial infrastructure and enabling it to expand into solid tumors.
Lung cancer is the leading cause of cancer death in the US and NSCLC is the most common type, accounting for 80-85% of all lung cancer diagnoses.
About Rigel
Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) is a biotechnology company dedicated to discovering, developing and providing novel therapies that significantly improve the lives of patients with hematologic disorders and cancer. Founded in 1996, Rigel is based in South San Francisco, California. For more information on Rigel, the Company’s marketed products and pipeline of potential products, visit www.rigel.com.
