• Arvinas, Pfizer signed license deal with Rigel for exclusive global development, manufacturing, commercialization rights to VEPPANU (vepdegestrant), first FDA-cleared PROTAC drug.
• USD 70 million upfront payment, USD 15 million tied to transition milestones; proceeds split evenly between Arvinas, Pfizer.
• Up to USD 320 million in development, regulatory, commercial milestones; tiered royalties in mid-teens to mid-20s on net sales, split evenly.
• Rigel to handle U.S. launch, commercialization; holds global rights with ability to sublicense outside U.S., with Arvinas, Pfizer entitled to share of sublicensing revenue.
• Rigel to contribute up to USD 40 million toward ongoing development activities currently run by Arvinas, Pfizer.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Arvinas Inc. published the original content used to generate this news brief on May 12, 2026, and is solely responsible for the information contained therein.