Rigel Pharmaceuticals acquires U.S. rights to GAVRETO®, a FDA-approved treatment for metastatic RET fusion-positive non-small cell lung cancer (NSCLC) and advanced RET fusion-positive thyroid cancer. The agreement, involving a $15.0 million purchase price and potential milestone payments, complements Rigel’s oncology focus. Concurrently, Roche’s decision to end collaboration with Blueprint Medicines ensures continued patient access to GAVRETO during the transition.
Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) has finalized an agreement to acquire the U.S. rights to GAVRETO® (pralsetinib) from Blueprint Medicines Corporation. GAVRETO, an oral kinase inhibitor targeting wild-type RET and oncogenic RET fusions, has received FDA approval for treating adult patients with metastatic RET fusion-positive non-small cell lung cancer (NSCLC), as determined by an FDA-approved test.
Raul Rodriguez, President and CEO of Rigel, highlighted the significance of GAVRETO in addressing a subset of NSCLC patients and emphasized its alignment with Rigel’s strategic focus on hematology and oncology. Dave Santos, Rigel’s Chief Commercial Officer, expressed confidence in smoothly transitioning GAVRETO to Rigel’s distribution network and expanding its reach to benefit both existing and new patients.
In addition to NSCLC, GAVRETO is also approved for treating advanced or metastatic RET fusion-positive thyroid cancer in adult and pediatric patients aged 12 and older who require systemic therapy and are radioactive iodine-refractory. The agreement entails Blueprint receiving a purchase price of $15.0 million, with further potential milestone and royalty payments. Rigel anticipates completing the asset transition and initiating product sales recognition in the third quarter of 2024.
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This acquisition aligns with Roche’s decision to terminate its collaboration agreement with Blueprint, ensuring continuity of access to GAVRETO for patients during the transition period through collaboration with Rigel and Blueprint. Detailed next steps and timelines will be communicated to stakeholders, including healthcare providers, in the coming weeks.