(Reuters) – Eli Lilly and Co will gain exclusive worldwide license to Rigel Pharmaceuticals Inc’s autoimmune and inflammatory diseases treatment candidate for potentially up to $960 million, the companies said on Thursday.
Rigel will receive an upfront cash payment of $125 million, with the potential for an additional up to $835 million in milestone payments.
Rigel’s lead therapy, R552, has completed early-stage trials and will begin mid-stage trials this year.
(Reporting by Dania Nadeem in Bengaluru; Editing by Arun Koyyur)
