Rigel Assumes Development Responsibility for Inhaled Asthma Therapy (RIGL)

Rigel Pharmaceuticals, Inc. RIGL today announced that the company will assume development of R343, its inhaled syk inhibitor for allergic asthma that recently completed several Phase 1 clinical trials. Pfizer Inc. is returning full rights to the R343 program as a result of its decision to exit the allergy and respiratory therapeutic area within R&D.  Rigel is evaluating the details of R343's development to date and expects to design a Phase 2 clinical trial with R343 later this year.