Wired News – ArQule Inked Exclusive License Deal with Basilea for Derazantinib in the US, EU, Japan and Rest of World
Stock Monitor: Hemispherx Biopharma Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 19, 2018 / Active-Investors.com has just released a free research report on ArQule, Inc. (NASDAQ: ARQL). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ARQL as the Company's latest news hit the wire. On April 17, 2018, the Company announced on that it has signed an exclusive license deal with Switzerland-based Basilea Pharmaceutica International Ltd ("Basilea"), to develop and commercialize ArQule's oncology drug candidate, derazantinib, in the US, EU, Japan, and rest of the world excluding the People's Republic of China, Hong Kong, Macau, and Taiwan. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Terms of the Deal
Basilea will make an upfront payment of $10 million to ArQule and additional $326 million in regulatory and commercial milestones payments.
ArQule will also 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.
ArQule is currently conducting a registrational trial for derazantinib in the United States, Canada, and Europe as a potential treatment for intrahepatic cholangiocarcinoma (iCCA), a form of biliary tract cancer. As part of the license agreement, Basilea intends to continue this trial and the further development of derazantinib in iCCA and other tumor types with FGFR dysregulation.
Derazantinib is an Ideal Match for Basilea's Existing Clinical Oncology Portfolio
Commenting on the agreement, Ronald Scott, Chief Executive Officer of Basilea, stated that Derazantinib is an ideal match for Basilea's existing clinical oncology portfolio. This transaction underscores Basilea's continued commitment to expand its R&D portfolio with novel compounds focused on overcoming the clinical problem of resistance in oncology and infectious diseases.
Ronald added that the Company's clinical oncology portfolio now includes three drug candidates in different stages of development.
Basilea will Bring a Wealth of Skills to the Expansion of the Derazantinib Development Plan
Paolo Pucci, Chief Executive Officer of ArQule, mentioned that partnering with Basilea, a company with global drug development experience and expertise, will propel the advancement of derazantinib in ways ArQule could not have achieved independently.
Paolo added that Basilea will bring a wealth of skills to the expansion of the derazantinib development plan at a time when it will benefit most from these resources, allowing it to reach its full potential in iCCA and beyond.
ArQule Out-Licenses Derazantinib to Roivant in China, Hong Kong, Macau, and Taiwan
On February 07, 2018, Roivant Sciences and ArQule announced the initiation of a collaboration to pursue the development of derazantinib in Greater China. As part of the collaboration, ArQule granted a Roivant subsidiary, Sinovant Sciences Ltd, an exclusive license to develop and commercialize derazantinib in the People's Republic of China, Hong Kong, Macau, and Taiwan.
About Derazantinib
Derazantinib (ARQ 087) is an investigational, oral, multi-kinase inhibitor designed to preferentially inhibit the FGFR family of kinases with demonstrated activity in FGFR2 genetic alterations, including fusions. The drug has demonstrated favorable clinical data in a biomarker-driven Phase-1/2 trial in iCCA targeting patients with FGFR2 fusions. Both the FDA and EMA have granted ArQule orphan drug designation for this disease.
About ArQule, Inc.
Founded in 1993 and headquartered in Burlington, Massachusetts, ArQule is a biopharmaceutical company engaged in the research and development of targeted therapeutics to treat cancers and certain rare diseases.
About Basilea Pharmaceutica International Ltd
Based in Basel, Switzerland, Basilea is a commercial stage biopharmaceutical company developing products that address the medical challenge of increasing resistance and non-response to current treatment options in the therapeutic areas of bacterial infections, fungal infections, and cancer.
Stock Performance Snapshot
April 18, 2018 - At Wednesday's closing bell, ArQule's stock marginally dropped 0.95%, ending the trading session at $3.13.
Volume traded for the day: 4.79 million shares, which was above the 3-month average volume of 734.21 thousand shares.
Stock performance in the last month – up 34.91%; previous three-month period – up 81.98%; past twelve-month period – up 226.04%; and year-to-date - up 89.70%
After yesterday's close, ArQule's market cap was at $281.48 million.
The stock is part of the Healthcare sector, categorized under the Biotechnology industry. This sector was flat at the end of the session.
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