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 US FDA related to a compound under development for Alzheimer's disease.
Under its previously established chemistry collaboration agreements with a number of pharmaceutical companies, ArQule received fees for services provided during the active phase of the agreements. These agreements at times include obligations for collaborators such as Wyeth to make milestone and royalty payments based on development milestones for compounds provided to them by ArQule.
ArQule is operationally focused in oncology, where its lead product is under development under an alliance with Roche. The Company has retained and is leveraging its chemistry capabilities to support its internal oncology drug discovery and development efforts.