CAMBRIDGE, Mass.--(BUSINESS WIRE)--ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today announced financial results for the quarter and six months ended June 30, 2007 and provided an update on corporate developments. “With our recently announced strategic collaboration with Merck & Co., we have embarked on a markedly expanded global development program for deforolimus in which substantial clinical trials and biomarker studies will be conducted concurrently in multiple cancers. Importantly, we anticipate that the combination of the up-front payment received from Merck plus the significant future milestone payments triggered by the start of pre-specified Phase 2 and Phase 3 clinical trials will fund our portion of the remaining development costs of deforolimus,” said Harvey J. Berger, M.D., chairman and chief executive officer of ARIAD. “As a result, our financial position has been greatly strengthened, enabling us to invest more fully in building our oncology product pipeline, including our next clinical candidate, AP24534.”
