ARQULE, INC. (NASDAQ:ARQL) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
On February 2, 2018, ArQule, Inc. (“ArQule” or the “Registrant”), Sinovant Sciences Ltd. (“Sinovant”), and Roivant Sciences Ltd. (Roivant), the parent of Sinovant, entered into a License Agreement (the “Agreement”) to which ArQule granted Sinovant an exclusive license to develop, manufacture and commercialize its FGFR inhibitor, derazantinib (ARQ 087), in Greater China (including the People’s Republic of China, Hong Kong, Macau and Taiwan).
The Agreement provides for an upfront payment to ArQule of $3 million and a guaranteed $2.5 million development milestone within the first year. ArQule is also eligible for an additional $82 million in regulatory and sales milestones. Upon commercialization, ArQule will receive double digit royalties in the low teens from Sinovant on net sales of derazantinib in the Greater China territory. Sinovant will be responsible for all costs and expenses of development, manufacture and commercialization.
A copy of the Agreement will be filed as an exhibit to the Registrant’s Annual Report on Form 10-K for the year ended December 31, 2017. A copy of the Registrant’s February 7, 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 February 7, 2018 |
ARQULE INC ExhibitEX-99.1 2 tv485062_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Contact: Dawn Schottlandt Vice President,…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.
