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Rigel Gets Milestone Payment from Merck


Posted on 2006-01-30 13:47:00



Rigel Pharmaceuticals Inc. said Monday that it received a payment from Merck & Co. for meeting a target of their drug development partnership.

The pharmaceutical firms did not disclose the amount or say what triggered the payment in a news release.

Merck and Rigel are collaborating on the development of a class of drugs called ubiquitin ligases, which could result in treatments for cancer or other diseases.

Rigel, which received funding at the beginning of the partnership, said it is eligible for milestone payments along with certain preclinical or clinical events.


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