press release archive

Rigel Names Ryan D. Maynard Vice President of Finance

SOUTH SAN FRANCISCO, Calif. - June 06, 2006

Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) announced today that Ryan D. Maynard has been appointed Vice President of Finance and acting Chief Financial Officer. Maynard has served Rigel for nearly five years and brings to the post both a deep understanding of the company’s strategy and extensive experience in finance.

Prior to being named to his new posts, Maynard worked as Rigel’s Corporate Controller, a Senior Director, and, since 2005, the Executive Director of Finance, Accounting and Purchasing.

“Ryan has proven himself to be an exemplary executive, and he has been an integral part of our success over the past few years,” said James M. Gower, Rigel’s Chief Executive Officer. “We look forward to his continued service in an expanded role, and we thank outgoing Chief Financial Officer James Welch for his leadership during his seven exceptional years with Rigel.”

Before joining Rigel, Maynard was Corporate Controller for the e-commerce software company Personify, Inc. from November 1999 to April 2001. He worked as the Controller of General Magic, Inc. from June 1998 to October 1999. Prior to that, he spent four years in a variety of positions at Siliconix, Inc. Previously, Maynard worked at Ernst & Young LLP. Maynard is also a certified public accountant.

About Rigel (www.rigel.com)
Rigel is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory diseases, cancer and viral diseases. Our goal is to move one new product candidate for a significant indication into the clinic each year. We have achieved this goal since 2002. Our pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel’s productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. We have product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia, and asthma and allergy, as well as in cancer.

This press release contains "forward-looking" statements, including statements related to Rigel's plans to pursue clinical development of product candidates and the timing thereof, the potential efficacy of product candidates and the sufficiency of financial resources. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "plans," "intends," "expects," “anticipates” and similar expressions are intended to identify these forward-looking statements. There are a number of important factors that could cause Rigel's results to differ materially from those indicated by these forward-looking statements, including risks associated with the timing and success of clinical trials and the commercialization of product candidates, as well as other risks detailed from time to time in Rigel's SEC reports, including its Form 10-Q for the quarter ended March 31, 2006. Rigel does not undertake any obligation to update forward-looking statements.

Contact: Raul Rodriguez
Phone: 650.624.1302
Email: invrel@rigel.com

Media Contact: Carolyn Bumgardner Wang, WeissComm Partners, Inc.
Phone: 415.946.1065
Email: carolyn@weisscommpartners.com