WASHINGTON (dpa-AFX) - ArQule, Inc. (ARQL) announced it has entered into an exclusive license agreement with Basilea Pharmaceutica International Limited to develop and commercialize derazantinib, a pan-FGFR (fibroblast growth factor receptor) inhibitor.
ArQule will receive an upfront payment of $10 million and is eligible for up to $326 million in regulatory and commercial milestones. ArQule is also entitled to receive staggered single-digit to double-digit royalties on net sales upon commercialization. Basilea will be responsible for all costs and expenses of development, manufacture and commercialization in its territory. Under certain circumstances, ArQule may have the opportunity to promote derazantinib in the US directly.
ArQule is currently conducting a registrational trial for derazantinib in the United States, Canada and Europe as a potential treatment for intrahepatic cholangiocarcinoma, a form of biliary tract cancer. As part of the license agreement, Basilea intends to continue the trial and the further development of derazantinib in iCCA and other tumor types with FGFR dysregulation.
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