ArQule, Inc. Receives $3 Million Milestone from Kyowa Hakko

Published: Feb 06, 2008

WOBURN, Mass.--(BUSINESS WIRE)--ArQule, Inc. (NASDAQ: ARQL) today announced that it has received a $3 million milestone payment from Kyowa Hakko Kogyo Co., Ltd. (Kyowa), marking the initiation by Kyowa of a Phase 1, dose escalation trial in Japan with ARQ 197, a small molecule, selective inhibitor of the c-Met receptor tyrosine kinase. This payment was made under the terms of an exclusive license agreement signed between the two companies in April 2007.

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