RIGEL, PFIZER SIGN AGREEMENT FOR TREATMENT OF ALLERGIC ASTHMA, OTHER RESPIRATORY DISEASES

Rigel Pharmaceuticals and Pfizer have entered into a collaborative research and license agreement for the development of inhaled products for the treatment of allergic asthma and other respiratory diseases, such as chronic obstructive pulmonary disease.

The collaboration is focused on Rigel's preclinical small molecule compounds, which inhibit IgE receptor signaling in respiratory tract mast cells by blocking the signaling enzyme Syk kinase. Under the terms of the agreement, Rigel will receive an upfront cash payment, as well as milestone payments and royalties on any future product sales.

Pfizer will make an equity investment in Rigel and will be responsible for the worldwide development and commercialization of any resulting products. Financial terms of the agreement were not announced.