AstraZeneca entered an exclusive
licensing deal potentially worth over $1.2 billion for the global rights to develop and market Rigel’s late-stage rheumatoid arthritis (RA) drug fostamatinib, the companies announced Tuesday. Anders Ekblom, AstraZeneca’s executive vice president of development, noted that the agreement for the oral spleen tyrosine kinase (Syk) inhibitor demonstrates “the key role externalisation continues to play” in the company’s strategy.
Under the deal, AstraZeneca will make an upfront payment to Rigel of $100 million with up to $345 million more if certain milestones are reached. The UK drugmaker will assume responsibility for developing the drug, as well as for regulatory submissions and marketing activities. The companies noted that “Rigel will also be eligible to receive up to an additional $800 million of specified sales-related milestone payments,” as well as royalties.
