ArQule and Daiichi-Sankyo in strategic partnership to develop novel
24 November 2008
ArQule, Inc. (NASDAQ: ARQL) and Daiichi Sankyo Co., Ltd. (TSE: 4568)
have announced they have entered into a strategic relationship for the
development and discovery of novel oncology therapeutics.
ArQule and Daiichi Sankyo will co-develop ARQ 197, a proprietary,
orally administered, small molecule inhibitor of the c-Met receptor
tyrosine kinase, to treat cancer. In addition, ArQule and Daiichi Sankyo
will advance the application of ArQule’s kinase inhibitor discovery
platform (AKIP) to develop a new generation of highly selective,
anti-cancer kinase inhibitors intended to ensure a long-term presence in
this therapeutic category. On a combined basis, the two deals include
$75 million in cash upfront to ArQule from Daiichi Sankyo.
“We are delighted to welcome Daiichi Sankyo as a partner in our
shared quest to bring innovative cancer therapeutics to patients and
their physicians,” said Paolo Pucci, chief executive officer of ArQule.
“With this announcement, we complete the ARQ 197 partnership process and
set the stage to bring the ARQ 197 development program to the next
level. We are also very pleased to broaden this relationship by
welcoming Daiichi Sankyo as our first partner for ArQule’s AKIP
“For ArQule, this strategic relationship will achieve several product
development, scientific and financial objectives,” said Mr. Pucci.
“First, it will allow us to optimize a clinical program with ARQ 197
that elicits the full therapeutic potential of this highly selective
c-Met inhibitor. Second, it supports and further validates the
application of our proprietary technology platform to the discovery of a
new generation of selective inhibitors of kinases implicated in cancer.
Finally, it provides meaningful, non-dilutive infusions of cash, as well
as an opportunity for cost sharing.”
“Daiichi Sankyo looks forward to being able to collaborate with
ArQule to realize differentiated and innovative approaches in the
treatment of these devastating diseases,” said Takashi Shoda, president
and chief executive officer of Daiichi Sankyo Co., Ltd. “This strategic
partnership is the next important milestone for Daiichi Sankyo to
solidify a strong and viable pipeline in oncology.”
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