Rigel Pharmaceuticals, Inc. (RIGL) Message Board

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Biotech / Medical : Rigel Pharmaceuticals, Inc. (RIGL)

RIGL 35.20

-2.6%

Nov 7 3:59 PM EST

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To: scaram(o)uche who started this subject	10/2/2001 4:59:12 AM
From: nigel bates	Read Replies (1) of 566

FRANKFURT, Oct 2 (Reuters) - German biotech Evotech OAI AG said on Tuesday it had agreed to work with U.S. drug discovery company Rigel Pharmaceuticals (NasdaqNM:RIGL - news) to identify a new class of compounds to inhibit certain cancers. Evotech said in a statement that it had signed a medicinal chemistry agreement with Rigel for the optimisation of small molecules focused on inhibitors of ubiquitin ligases, which are involved in cell division and the progression of some cancers. ``Research on this target class is an important new area in the field of oncology,'' the company said. Rigel will provide funding to Evotec OAI for its services during the research programme and may make milestone payments to the German company if discovery projects meet defined goals and products are commercialised...

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