Rigel soars on deal with Lilly to develop RIPK1 inhibitors

18 February 2021

Californian biotech firm Rigel Pharmaceuticals (Nasdaq: RIGL) saw its shares rocket as much as 40% early this morning, on news of a deal with pharma major Eli Lilly (NYSE: LLY) potentially worth $960 million.

Lilly and Rigel announced a global exclusive license agreement and strategic collaboration to co-develop and commercialize Rigel's R552, a receptor-interacting serine/threonine-protein kinase 1 (RIPK1) inhibitor, for all indications including autoimmune and inflammatory diseases. Under the collaboration, Lilly will also lead all clinical development of brain penetrating RIPK1 inhibitors in central nervous system (CNS) diseases.

Rigel's lead RIPK1 inhibitor, R552, has completed Phase I clinical trials and will begin Phase II clinical trials in 2021 as part of the collaboration. Rigel also has ongoing pre-clinical activities with its lead CNS penetrant RIPK1 inhibitor candidates.

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