RTTNews | Feb 18, 2021 06:53AM EST

06:53 Thursday, February 18, 2021 (RTTNews.com) - Eli Lilly and Co. (LLY) and Rigel Pharmaceuticals Inc. (RIGL) said that they have collaborated to co-develop and commercialize Rigel's R552, a receptor-interacting serine/threonine-protein kinase 1 or RIPK1 inhibitor, for the potential treatment of immunological and neurodegenerative diseases.

Lilly said it will obtain an exclusive worldwide license to Rigel's RIPK1 inhibitors, including Rigel's Phase 2-ready molecule R552, in all indications.

As per the terms of the deal, Lilly will pay an upfront cash payment to Rigel of $125 million. Rigel may also be eligible to receive up to $835 million in potential development, regulatory, and commercial milestone payments, as well as tiered royalties ranging from the mid-single digit to high-teens that will vary depending upon Rigel's clinical development investment.

Lilly and Rigel will co-develop R552 at specified contribution levels. Lilly will be responsible for all costs of global commercialization for R552, and Rigel will have the right to co-commercialize R552 in the U.S.

Lilly will be solely responsible for all clinical development and commercialization of brain penetrating RIPK1 inhibitors in CNS indications.

Read the original article on RTTNews ( https://www.rttnews.com/3170783/lilly-rigel-to-develop-ripk1-inhibitors-for-treatment-of-immunological-neurodegenerative-diseases.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved