Wyeth milestone for ArQule on AD drug
ArQule has received a milestone payment from fellow USA-based Wyeth in connection with the filing of an Investigational New Drug application by the latter to the Food and Drug Administration 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 companies by ArQule. The latter 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, in partnerships with, among others, Japan's Kyowa Hakko Kogyo and Swiss drug major Roche.
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