Pfizer and Arvinas granted Rigel Pharmaceuticals exclusive global rights to the recently approved breast cancer drug VEPPANU (vepdegestrant). Rigel will manage the development, manufacturing, and sale of the treatment.
Pfizer and Arvinas will share an initial upfront payment of $70 million. The partners will receive an additional $15 million after completing transition activities.
The deal includes up to $320 million in potential regulatory and commercial milestone payments. Pfizer and Arvinas also remain eligible for tiered royalties on future sales.
Rigel will lead the U.S. launch and all global commercialization efforts for the drug.