Arvinas and Pfizer licensed global rights to VEPPANU, the first FDA-approved PROTAC therapy, to Rigel Pharmaceuticals in a deal worth up to $405 million plus royalties.
Written By: Karthik Teja Macharla, PharmD
Reviewed By: Pharmacally Editorial Team
Arvinas and Pfizer have entered into a licensing agreement with Rigel Pharmaceuticals, Inc., granting Rigel exclusive global rights to develop, manufacture, and commercialize VEPPANU™ (vepdegestrant), the first FDA-approved PROteolysis TArgeting Chimera (PROTAC) therapy.
Under the terms of the agreement, Arvinas and Pfizer will receive a $70 million upfront payment and an additional $15 million tied to development and manufacturing transition activities. The companies are also eligible for up to $320 million in development, regulatory, and commercial milestone payments, along with tiered royalties on net sales ranging from the mid-teens to mid-20s.
Rigel will lead the U.S. launch and commercialization of VEPPANU while holding global rights, including the ability to sublicense the therapy outside the United States. Arvinas and Pfizer will continue overseeing certain ongoing development activities, with Rigel contributing up to $40 million toward those programs. The transaction remains subject to customary closing conditions, including regulatory clearances under the Hart-Scott-Rodino Antitrust Improvements Act.
VEPPANU is approved in the United States for adults with estrogen receptor-positive (ER+)/human epidermal growth factor receptor 2-negative (HER2-), ESR1-mutated advanced or metastatic breast cancer, as detected by an FDA-authorized test, following disease progression after at least one line of endocrine therapy.
On May 8, 2026, the National Comprehensive Cancer Network (NCCN) added VEPPANU to its Breast Cancer Guidelines as a Category 2A treatment option for HR-positive/HER2-negative, ESR1-mutated advanced or metastatic breast cancer following endocrine therapy plus a CDK4/6 inhibitor.
VEPPANU is an orally bioavailable PROTAC estrogen receptor degrader developed using targeted protein degradation technology. This approach selectively removes disease-associated proteins through natural cellular processes. By targeting the estrogen receptor, VEPPANU addresses a key driver of hormone receptor-positive breast cancer and a major mechanism of endocrine resistance.
“We are pleased to announce the selection of Rigel, a partner with an established oncology organization, to help unlock the commercial potential of VEPPANU and expand patient access,” said Randy Teel, Ph.D., president and chief executive officer of Arvinas.
Raul R. Rodriguez, president and chief executive officer of Rigel Pharmaceuticals, said the company plans to build on the clinical and regulatory progress achieved for VEPPANU and continue expanding access for eligible patients.
The agreement transfers commercial responsibility for VEPPANU to Rigel as the companies seek to expand access to the first approved PROTAC therapy for patients with ESR1-mutated advanced breast cancer.
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About the Writer
Karthik Teja Macharla, PharmD (LinkedIn) is a Pharm.D. graduate with a strong interest in clinical research, pharmacovigilance, and medical writing. In his words, he is passionate about converting complex medical information into clear, evidence-based scientific communication, committed to contributing to patient safety and advancing healthcare through accurate and impactful medical content
