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Rigel To Focus On Extensive Clinical Pipeline At Upcoming J.P. Morgan Presentation

SOUTH SAN FRANCISCO, Calif., Jan. 3, 2013 /PRNewswire/ -- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today announced that James M. Gower, the company's chairman and chief executive officer, will present an update on the company's product portfolio at the J.P. Morgan Healthcare Conference in San Francisco on January 7, 2013 at 1:30pm Pacific time (see webcast details below).  In December 2012, Rigel initiated a Phase 1 clinical study of R348, a topical JAK/SYK inhibitor, as a potential therapeutic for chronic dry eye and expects to initiate a Phase 2 clinical study in mid 2013. With the addition of R348, Rigel currently has four programs in clinical development, including fostamatinib, which is completing its Phase 3 program with partner AstraZeneca.

"Rigel has created a substantial clinical portfolio with key products now in Phase 3 and Phase 2 clinical trials," said Mr. Gower. "We expect 2013 to be a transformational year for Rigel as several of these studies produce clinical results in succession."

The following is additional information about some of the programs Rigel will discuss at the J.P. Morgan Conference:

Fostamatinib Rigel's partner, AstraZeneca, reported that the Phase 3 trials of fostamatinib in the OSKIRA (Oral SYK Inhibition in Rheumatoid Arthritis) program are proceeding on course.  The program includes three pivotal studies assessing the efficacy and safety of fostamatinib in patients with rheumatoid arthritis (RA). OSKIRA-1 and OSKIRA-2 are independent 12-month studies examining the effect of fostamatinib on RA patients with inadequate responses to DMARDs, including methotrexate.  OSKIRA-3 is a 6-month study assessing the effect of fostamatinib on RA patients who have previously responded inadequately to a single anti-TNF therapy.  In addition, AstraZeneca is conducting a long-term extension study looking at the ongoing safety and tolerability of the investigational drug (OSKIRA-X).

The OSKIRA Phase 3 studies are expected to report top line results in the first half of 2013.  AstraZeneca expects to submit regulatory filings in the US and EU for fostamatinib use in combination with a DMARD, based on the OSKIRA Phase 3 program, in the second half of 2013.

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