Issue Date: November 17, 2008
ArQule Strikes Deal With Japan's Daiichi
ArQule has sealed two deals with Japanese drugmaker Daiichi Sankyo. In the first agreement, Daiichi will pay $60 million up front, as well as undisclosed milestone and royalty payments, for access to ArQule's ARQ 197, a small molecule that blocks Met, a protein implicated in some cancers. Separately, Daiichi will fork over $15 million plus research funding to use ArQule's kinase inhibitor discovery platform to find new anticancer drugs. The firms have launched a research collaboration that has already selected two kinase targets.
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