In October 2019, Rigel entered into exclusive commercialization license agreements with Medison Pharma to commercialize fostamatinib disodium hexahydrate (fostamatinib) in all potential indications in Canada and Israel.
Fostamatinib is commercially available in the U.S. under the brand name TAVALISSE® (fostamatinib disodium hexahydrate) tablets and is the first and only spleen tyrosine kinase (SYK) inhibitor indicated for the treatment of thrombocytopenia in adult patients with chronic immune thrombocytopenia (ITP) who have had an insufficient response to a previous treatment.
Rigel received an upfront payment of $5 million, which includes an advanced royalty payment, with the potential for approximately $35 million in regulatory and commercial milestones. In addition, the company will receive royalty payments beginning at 30% of net sales after credit for the advanced royalty payment is fulfilled.
Development of fostamatinib in Canada and Israel:
- The new drug submission (NDS) in Canada has been filed and a response is expected on the approval by the end of 2020