Rigel Pharmaceuticals has completed its previously announced licensing agreement with Arvinas and Pfizer for breast cancer treatment VEPPANU (vepdegestrant), clearing the way for the company to begin commercialisation of the drug.

The agreement became effective on June 11 following the early termination of the waiting period under the Hart-Scott Rodino Antitrust Improvements Act and the fulfilment of other customary closing conditions.

As part of the deal, Rigel has made an upfront payment of $70 million, which will be divided equally between Arvinas and Pfizer under the terms of the agreement.

VEPPANU was approved by the FDA for adults with estrogen receptor-positive, HER2-negative, ESR1-mutated advanced or metastatic breast cancer whose disease has progressed following at least one line of endocrine therapy.

The licensing agreement grants Rigel exclusive global rights to develop, manufacture and commercialise the therapy.

The company said it expects VEPPANU to become commercially available in August, marking the next stage in Rigel’s expansion beyond its existing portfolio.

The transaction represents the completion of a deal first announced earlier this year and gives Rigel responsibility for the future development, manufacturing and commercial strategy for the medicine.

VEPPANU targets a subgroup of breast cancer patients with ESR1 mutations, which can emerge during endocrine therapy and contribute to treatment resistance in advanced disease.

Rigel did not disclose additional financial details beyond the previously announced upfront payment and did not provide updated sales forecasts for the product.

The company said the closing followed satisfaction of regulatory and customary conditions required under the agreement.

VEPPANU is approved in the USA for patients whose tumours carry ESR1 mutations identified through an FDA-authorised test and whose disease has progressed after endocrine treatment.

The completion of the transaction formally transfers commercialisation responsibilities to Rigel as the company prepares for the anticipated August launch.