Rhizen is entitled to royalties on net sales of US FDA-approved Ukoniq, being commercialized by partner TG Therapeutics, and expects to take the lymphoma treatment to India. CEO suggests the first-in-class PI3K/CK1 epsilon inhibitor, discovered by Rhizen, bests competitors including Bayer's Aliqopa.

The drug enters the increasingly competitive space of CD20-targeting therapies for multiple sclerosis, with two agents already approved.

One day after reporting that its umbralisib/ublituximab combo met a PFS endpoint in CLL, TG raises $60m as it prepares for a year-end filing of the combo. Umbralisib monotherapy is under FDA review already.