ArQule Signs c-Met Inhibitor, Discovery Platform Deals With Daiichi Sankyo

ArQule signed a two-part deal with Daiichi Sankyo Nov. 10 that gives the biotech important non-dilutive funding as well as validation for its discovery platform. In exchange for broad commercialization rights to ArQule's lead compound, the Phase II oncologic ARQ 197, Daiichi will pay $75 million in upfront funding along with up to $560 million in potential milestones