Rigel (RIGL) has released an update.
Rigel Pharmaceuticals has struck a $15.0 million deal with Blueprint Medicines to acquire rights to their RET inhibitor pralsetinib, used in treating certain cancers, with additional milestone payments that could total up to $102.5 million. Alongside the initial purchase, Rigel may also make tiered royalty payments on future sales. This strategic move includes a transition period where Blueprint will assist Rigel in taking over the drug’s regulatory and distribution responsibilities. The detailed terms will be available in Rigel’s upcoming SEC filing.
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