Right as it gets a date with FDA, Forma offloads IDH1 inhibitor to Rigel
An IDH1 inhibitor on the cusp of an FDA decision is changing hands.
Watertown, MA-based Forma Therapeutics has long made it clear that olutasidenib, its oral inhibitor of mutant isocitrate dehydrogenase 1, is a non-core program. So perhaps it’s little surprise that as the FDA accepts its NDA, Forma’s licensing the drug to Rigel Pharmaceuticals in a $235 million deal.
Rigel is only paying $2 million of that upfront, but Forma could collect another $17.5 million soon if it meets certain regulatory, approval and first commercial sales milestones. The rest is tied to future development and commercial work.
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