ArQule out-licenses derazantinib in China

8 February 2018

US biotech firm ArQule (Nasdaq: ARQL) has entered into a collaboration to pursue the development of derazantinib, a pan-FGFR (fibroblast growth factor receptor) inhibitor, in Greater China.

As part of the collaboration, ArQule has granted a subsidiary of Switzerland-based Roivant Sciences an exclusive license to develop and commercialize derazantinib in mainland China, Hong Kong, Macau, and Taiwan.

Financial deal terms include an upfront payment to ArQule of $3 million and an additional $2.5 million development milestone within the first year. ArQule is also eligible for regulatory and commercial milestones and royalties on future sales of derazantinib in Greater China. News of the deal sent ArQule’s shares up 5.1% to $1.65 yesterday.

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