Arvinas and Pfizer out-license VEPPANU to Rigel for $85M upfront; potential $320M milestones

ARVINAS, INC.

• Rigel pays $70M upfront plus up to $15M upon completion of transition activities; split evenly with Pfizer.
• Arvinas and Pfizer eligible for up to $320M in development, regulatory, and commercial milestones.
• Tiered royalties on worldwide net sales in the mid-teens to mid-20s, also split evenly.
• Rigel contributes up to $40M toward ongoing development; Arvinas/Pfizer continue current activities.
• Closing subject to HSR waiting period; NCCN added vepdegestrant as Category 2A on May 8, 2026.

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