Rigel Announces Presentations at Upcoming Investor and Partnering Conferences

SOUTH SAN FRANCISCO, Calif., Oct. 30 /PRNewswire-FirstCall/ -- Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today announced that senior management will present at the following conferences in November 2007:

    CIBC World Markets 18th Annual Healthcare Conference
    The Waldorf-Astoria Hotel, New York, NY
    November 6, 2:30 p.m. EST
    Speaker: James M. Gower, Chairman and CEO

    Acumen BioFin Rodman & Renshaw 9th Annual Healthcare Conference
    New York Palace Hotel, New York, NY
    November 7, 11:30 a.m. EST
    Speaker: James M. Gower, Chairman and CEO

    BIO-Europe 2007
    Congress Center, Hamburg, Germany
    November 13, 9:00 a.m. CET
    Speaker: Raul R. Rodriguez.  Executive Vice President and Chief Operating
    Officer

    Credit Suisse Healthcare Conference
    Arizona Biltmore Resort & Spa, Phoenix, AZ
    November 13, 8:00 a.m. MST
    Speaker: James M. Gower, Chairman and CEO

The investor presentations will be webcast. To access the live webcasts or the subsequent archived recordings, log on to http://www.rigel.com. Please connect to Rigel's website several minutes prior to the start of a live webcast to ensure adequate time for any software download that may be necessary.

About Rigel (http://www.rigel.com)

Rigel is a clinical-stage drug development company that discovers and develops novel, small-molecule drugs for the treatment of inflammatory/autoimmune diseases and cancer, as well as viral and metabolic diseases. Our goal is to file one new investigational new drug (IND) application in a significant indication each year. Rigel has achieved this goal every year since 2002. Our pioneering research focuses on intracellular signaling pathways and related targets that are critical to disease mechanisms. Rigel's productivity has resulted in strategic collaborations with large pharmaceutical partners to develop and market our product candidates. Rigel has product development programs in inflammatory/autoimmune diseases such as rheumatoid arthritis, thrombocytopenia and asthma, as well as in cancer.

This press release contains "forward-looking" statements, including statements related to Rigel's plans to pursue clinical development of product candidates, and the timing of results thereof. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "plans," "intends," "indicates," "promising," "expects," "anticipates" and similar expressions are intended to identify these forward-looking statements. There are a number of important factors that could cause Rigel's results to differ materially from those indicated by these forward-looking statements, including risks associated with the timing and success of clinical trials and the commercialization of product candidates, as well as other risks detailed from time to time in Rigel's SEC reports, including its Form 10-Q for the quarter ended June 30, 2007. Rigel does not undertake any obligation to update forward-looking statements.

    Contact: Ryan Maynard
    Phone: 650.624.1284
    Email: invrel@rigel.com

    Media Contact: Susan C. Rogers, Alchemy Consulting, Inc.
    Phone: 650.430.3777
    Email: susan@alchemyemail.com

SOURCE Rigel Pharmaceuticals, Inc.

Released October 30, 2007