Rebasing Rigel

The investors put up the money based on the potential of three unpartnered programs in preclinical and early clinical development in chronic disease areas. The programs include an inhibitor of IgE receptor activation on mast cells, which is in Phase Ib testing for allergic rhinitis. An inhibitor of IgG receptor activation on immune cells is in preclinical development for rheumatoid arthritis; and an inhibitor of viral replication is in preclinical development for hepatitis C virus infection(see "Rigel's Pipeline," A19).

The focus of the new dollars will be on getting clinical efficacy data on these products, at which point the company will look for a partner. ...