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ArQule, Inc.
ArQule Announces Receipt of Milestone Payment from Wyeth
April 11th, 2008
ArQule, Inc. (NASDAQ: ARQL) announced the receipt of a milestone payment from Wyeth (NYSE:WYE) in connection with the filing of an Investigational New Drug (IND) application by Wyeth to the U.S. Food and Drug Administration (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...
Source: Health Business Week (2008-04-11)
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