Rigel Pharma, Aclaris Therapeutics Sign License Agreement For JAK Inhibitors

(RTTNews) - Rigel Pharmaceuticals, Inc. (RIGL) said it has entered into an exclusive worldwide license agreement with Aclaris Therapeutics International Ltd or ATIL, a wholly-owned subsidiary of Aclaris Therapeutics, Inc., for the development and commercialization of specified Rigel JAK inhibitors to treat alopecia areata and other dermatological conditions.

Under the license agreement, ATIL will assume responsibility for the continued development of specified Rigel JAK inhibitor compounds. Rigel will receive an upfront payment of $8 million and will also be eligible to receive various milestone payments of up to $90 million, based on global development and multiple indications, as well as tiered royalties on any future sales of these compounds.

Alopecia areata is an autoimmune dermatologic condition, typically characterized by patchy, non-scarring hair loss on the scalp and body. The National Alopecia Areata Foundation reports that over 6.6 million Americans have had or will develop alopecia areata at some point in their lives.