TG Therapeutics takes up option on PI3K-Delta inhibitor, TGR-1202
US development stage company TG Therapeutics (Nasdaq: TGTX) says it has exercised its option to license the global rights to TGR-1202, the company's novel, next generation PI3K-delta inhibitor from privately-held Swiss firm Rhizen Pharmaceuticals.
TG Therapeutics and Rhizen have to date been jointly developing TGR-1202 in a 50:50 joint venture which was worth up to $250 million to the Swiss firm (The Pharma Letter August 17, 2012). Given the successful development of TGR-1202, TG Therapeutics elected an early exercise of the Company's license option.
Financial terms of the deal
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