SOUTH SAN FRANCISCO, Calif. A licensing agreement between AstraZeneca and Rigel Pharmaceuticals for a rheumatoid arthritis treatment has gone into effect, following the expiration of the waiting period required by the Hart-Scott-Rodino Antitrust Improvements Act, Rigel announced Monday.
The expiration of the waiting period makes Rigel eligible for a payment of $100 million from the Anglo-Swedish drug maker, under terms of a deal the two companies entered whereby AstraZeneca will gain development and sales rights to Rigel’s arthritis drug R788 (fostamatinib disodium). The drug recently completed phase 2 clinical trials.
AstraZeneca also will receive exclusive rights to other Rigel drugs, as well as additional uses for R788. Rigel will receive up to $345 million in milestone payments and up to $800 million in royalties.