Arvinas and Pfizer complete Rigel license deal for vepdegestrant

Arvinas, Inc. (NASDAQ: ARVN) and Pfizer Inc. have completed a license agreement with Rigel Pharmaceuticals, Inc., granting Rigel exclusive global rights to develop, manufacture, and commercialize VEPPANU (vepdegestrant), according to a company statement.

The transaction received early termination of the Hart-Scott-Rodino antitrust waiting period on June 11, 2026, allowing the agreement to take effect. Rigel has made an initial upfront payment of $70.0 million in aggregate to Arvinas and Pfizer, to be distributed evenly between the two parties.

An additional $15.0 million payment from Rigel is contingent on the successful completion of select development and manufacturing transition activities. Arvinas and Pfizer are also eligible to receive up to $320.0 million in contingent payments tied to future development, regulatory, and commercial milestones.

The agreement also includes tiered royalties ranging from the mid-teens to mid-20s percentage based on worldwide net sales of VEPPANU, subject to reduction under certain conditions outlined in the license agreement. All payments will be split evenly between Arvinas and Pfizer.

The milestone and royalty payments under this agreement replace any unearned future amounts that may have been owed by Pfizer to Arvinas under their prior collaboration agreement, originally dated July 21, 2021.

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