Rigel earns $5 million milestone from Serono for oral anticancer drug R763

By E. Janene Geiss

Philadelphia, Jan. 26 - Rigel Pharmaceuticals, Inc. said Thursday that it will receive a $5 million milestone payment from Serono triggered by the progress on the Investigational New Drug application for R763, an oral treatment for cancer.

Phase I clinical trials in cancer patients are slated to begin later this year, according to a company news release.

Serono licensed development and commercialization rights in October to Rigel's Aurora kinase inhibitor program, including R763, a highly potent, orally available multi-Aurora kinase inhibitor.

R763 has been shown in vitro and in vivo tumor xenograft models to potently inhibit proliferation and trigger apoptosis in several leukemia and tumor cell lines including the cervix, colon, lung, pancreas and prostate, officials said.

"This is an important milestone for our collaboration with Serono, who will take R763 into clinical development in 2006. Given the broad applicability R763 has demonstrated on many types of solid tumors and leukemias, we're excited to see this compound move further along in development," Donald G. Payan, executive vice president and chief scientific officer of Rigel, said in the release.

Serono's license is worldwide, except for Japan, which Serono has an option to include at any time within two years of signing the agreement, officials said.

Under the terms of the agreement, Rigel is eligible to receive up to $160 million plus royalties on any eventual product sales of R763 and other Aurora kinase inhibitors developed under the agreement.

Serono said it will be responsible for the further development and commercialization of R763, as well as any other product candidates arising from Rigel's Aurora kinase inhibitor program.

Rigel has achieved milestones for total payments of $30 million from Serono to date, including $10 million in initial payments, $15 million in equity participation and the $5 million milestone payment for the IND, officials said.

Rigel is a South San Francisco clinical-stage drug development company that develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases.

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