Rigel Pharmaceuticals (RIGL) has completed its licensing deal for the breast cancer drug Veppanu, the drugmaker said late Tuesday.
The company previously signed an exclusive global licensing agreement with Arvinas (ARVN) and Pfizer (PFE) to develop, manufacture and commercialize Veppanu.
The agreement became effective on June 11, and Rigel has made the upfront payment of $70 million, which will be split equally between Arvinas and Pfizer.
Veppanu is expected to become commercially available in August, the company said.
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