Exhibit 99.1
RIGEL AND PFIZER SIGN
COLLABORATIVE RESEARCH AND LICENSE AGREEMENT FOR THE TREATMENT OF
ALLERGIC ASTHMA AND OTHER RESPIRATORY DISEASES
Collaboration to Focus on Novel Class of Compounds to Address
Respiratory Inflammatory Diseases
South San Francisco, Calif,
and New York, NY, January 20, 2005— Rigel
Pharmaceuticals, Inc. (Nasdaq: RIGL) and Pfizer Inc. (NYSE: PFE)
today announced that the two companies 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
(COPD). 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.
“Inhibition of Syk kinase is a novel
approach to reduce the chronic inflammation in patients with
allergic diseases of the respiratory tract such as allergic
asthma,” said Martin Mackay, Senior Vice President Worldwide
Research & Technology for Pfizer Inc. “We believe that
the combination of Rigel’s novel small molecule approach and
Pfizer’s drug development capabilities will allow us to
progress new and important treatments for respiratory
diseases.”
“Pfizer’s commitment to targeting
the unmet medical needs of asthma and respiratory patients makes
them an ideal partner with the requisite capabilities and global
reach to succeed in this collaboration,” said James M. Gower,
chief executive officer of Rigel. “This is our second
research collaboration with Pfizer in this field and it confirms
the quality of our company’s programs in the respiratory
field.”
Rigel has pioneered the discovery of treatments
for allergic diseases by blocking Syk kinase. The Company was
the first to discover and develop potent and selective Syk
inhibitors and introduce these into the clinic.
The
Syk kinase intrapulmonary collaboration with Pfizer does not
include R112, Rigel’s lead Syk kinase inhibitor that is being
developed for the treatment of allergic rhinitis. Rigel recently
completed a successful Phase II clinical study with R112 and is
proceeding with the further clinical development of R112 for
allergic rhinitis. After further Phase II clinical trials are
completed, Pfizer will have a limited option to license R112 and
Rigel’s Syk inhibitors in the allergic rhinitis field under
different financial and other obligations.
Syk Inhibition in Respiratory
Diseases
Rigel’s small molecule compounds bind to
and inhibit Syk kinase, an intracellular target that regulates IgE
receptor signaling in mast cells and thus prevent
cellula
