Basilea buys rights to cancer candidate from ArQule

18 April 2018

US biotech firm ArQule (Nasdaq: ARQL) closed 17% higher on Tuesday at $3.16 after announcing that it was to receive an upfront payment of $10 million and up to $326 million in regulatory and commercial milestones as part of a licensing deal with Basilea Pharmaceutica (SIX: BSLN).

The commercial stage Swiss biopharma has paid for rights to develop and commercialize the pan-fibroblast growth factor receptor (FGFR) derazantinib everywhere in the world except for China, Hong Kong, Macau and Taiwan, where the Roivant Sciences subsidiary Sinovant Sciences holds the rights.

“This transaction underscores our continued commitment to expand our R&D portfolio"

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK