ARQULE, INC. (NASDAQ:ARQL) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
On April 17, 2018, ArQule, Inc. (“ArQule” or the “Registrant”) and Basilea Pharmaceutica International Limited (“Basilea”) entered into a License Agreement (the “Agreement”) to which ArQule granted Basilea an exclusive license to develop, manufacture and commercialize its FGFR inhibitor, derazantinib (ARQ 087), in the United States, EU, Japan and the rest of the world, excluding the People’s Republic of China, Hong Kong, Macau and Taiwan.
Under the terms of the agreement, ArQule will receive an upfront payment of $10 million and is eligible for up to $326 million in regulatory and commercial milestones. ArQule is also entitled to receive staggered single-digit to double-digit royalties on net sales upon commercialization. Basilea will be responsible for all costs and expenses of development, manufacture and commercialization in its territory. Under certain circumstances, ArQule may have the opportunity to promote derazantinib in the US directly.
A copy of the Agreement will be filed as an exhibit to the Registrant’s Quarterly Report on Form 10-Q for the second quarter ended June 30, 2018. A copy of the Registrant’s April 17, 2018 press release announcing the transaction is filed as exhibit 99.1 to this report and is incorporated herein by reference
| Item 9.01 | Financial Statements and Exhibits. |
| 99.1 | Press release dated April 17, 2018 |
ARQULE INC ExhibitEX-99.1 2 tv491169_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Contact: Paolo Pucci Chief Executive Officer (781) 994-0300 www.ArQule.com ArQule and Basilea Enter into Exclusive License Agreement for Derazantinib in the US,…To view the full exhibit click here
About ARQULE, INC. (NASDAQ:ARQL)
ArQule, Inc. is a biopharmaceutical company. The Company is engaged in the research and development of therapeutics to treat cancers and rare diseases. These drugs focuses on the biological pathways implicated in a range of cancers and certain non-oncology indications. Its clinical-stage pipeline consists of over four drug candidates, all of which are in targeted patient populations. The Company’s lead product candidate is tivantinib (ARQ 197), an orally administered, small molecule inhibitor of the c-Met receptor tyrosine kinase (MET) and its biological pathway. The Company’s product candidates include ARQ 092, designed to inhibit the AKT serine/threonine kinase; ARQ 087, a multi-kinase inhibitor designed to inhibit the fibroblast growth factor receptor (FGFR) family, and ARQ 761, a Beta lapachone analog being evaluated in investigator-sponsored testing as a promoter of NQO1-mediated programmed cancer cell necrosis.
