Serono INDs R763, the Aurora Kinase Inhibitor, Rigel gets $5 million milestone payment
>>SOUTH SAN FRANCISCO, Calif., Jan. 26 /PRNewswire-FirstCall/ -- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL - News) announced today that it will receive a $5 million milestone payment from Serono triggered by the progress on the Investigational New Drug (IND) application for R763, for which Phase I clinical trials in cancer patients shall commence later this year. R763 is a highly potent, orally available multi-Aurora kinase inhibitor. Serono licensed development and commercialization rights to Rigel's Aurora kinase inhibitor program, including R763 for cancer, in October 2005.
R763 has been shown in vitro and in 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.
"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," said Donald G. Payan, M.D., executive vice president and chief scientific officer of Rigel.
On October 25, 2005, Rigel announced that it had granted Serono an exclusive license to develop and commercialize product candidates from Rigel's Aurora kinase inhibitor program. The license is worldwide, except for Japan, which Serono has an option to include at any time within two years following signature of the agreement. Under the terms of the agreement, Rigel is eligible to receive up to $160 million in total as well as royalties on any eventual product sales of R763 and other Aurora kinase inhibitors developed under the agreement. Serono 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 this $5 million milestone payment for the IND.
Aurora Kinase and Cancer
The over-expression of Aurora kinase can cause cells to rapidly develop an abnormal number of chromosomes. Elevated levels of Aurora kinase are frequently associated with various human cancers, such as cancers of the breast, bladder, colon, ovary, head and neck, and pancreas. Inhibition of Aurora kinase arrests cell division and promotes programmed cell death (apoptosis). Increased knowledge of Aurora kinase and its regulation may result in future treatments for cancer.
Rigel's lead oncology drug candidate, R763, is a highly potent inhibitor of Aurora kinase, which has been shown to potently inhibit proliferation and trigger apoptosis in several tumor cell lines including cervix, colon, lung, pancreas and prostate. Rigel discovered R763 using its proprietary cell-based PAD (Proliferation, Apoptosis and DNA content) assays applied to tumor cell lines.<<
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