TG Therapeutics and Rhizen Pharmaceuticals have entered into an exclusive global agreement for the development and commercialization of Rhizen's lead product candidate, TGR-1202, a PI3K delta inhibitor. The companies will jointly develop the product on a worldwide basis, excluding India, initially focusing on hematologic malignancies and autoimmune disease. Beyond TGR-1202, Rhizen will contribute backup molecules for TG to develop differentiated therapies against these diseases.
TG will make upfront licensing payments and milestones based on early clinical development, and will be responsible for the costs of clinical development through Phase II, after which both companies will be responsible development costs. Both companies will have an exclusive option for TG to license the rights to TGR-1202, in which case Rhizen would be eligible to receive upfront, development, and commercialization milestones, and royalties on sales, which could exceed $250 million. Rhizen will manufacture and supply the product and TG will be responsible for all clinical and regulatory development globally.