ArQule Receives Wyeth Payment for IND

ArQule, Inc. has received a milestone payment from Wyeth in connection with the filing of an Investigational New Drug (IND) application by Wyeth to the FDA related to a compound under development for Alzheimer’s disease.

In connection with its former chemistry services business, ArQule has agreements with pharmaceutical collaborators such as Wyeth. Certain of the agreements include provisions for milestone and royalty payments in the event of development and commercialization of drugs derived from compounds provided to them by ArQule. ArQule has retained and is leveraging certain core chemistry capabilities developed and validated in the course of these collaborations to support its mission as an oncology company whose partners include Kyowa Hakko Kogyo Co., Ltd. and Hoffman-La Roche.