Interesting, very interesting?
Six months ago or so, on news about new collaborator this message board would be floated with posts from at least several SI bio-freaks members.
Did investors give up any hope for this sucker?
Not much detail in news, but one new development did retain my interest:
<< . PRI will also receive a non-exclusive license to the process of designing and manufacturing arrays of logically ordered chemical compounds, as claimed in ArQule's U.S. Patent No. 5,712,171, entitled ''Method of Generating a Plurality of Compounds in a Spatially Arranged Array.''>>
Is, in this case, intolerance and indifference actually sign that street can't see behind *closed door*?
Are more of this new type partnership on a way (for example Roche)?
Miljenko
ArQule, Inc. Executes a Four Year Collaboration with R.W. Johnson Pharmaceutical Research Institute for the Discovery of Novel Pharmaceuticals
MEDFORD, Mass., Dec. 16 /PRNewswire/ -- ArQule, Inc. (Nasdaq: ARQL - news) announced today it has entered into a collaboration with R.W. Johnson Pharmaceutical Research Institute (''PRI''), a Johnson & Johnson affiliate, to discover drug candidates. Under terms of the agreement, PRI will receive a four year subscription to ArQule's Mapping Array™ program to discover new lead compounds for a variety of therapeutic areas. ArQule will begin shipping the Mapping Arrays™ to PRI in December 1998. PRI will make annual subscription payments to ArQule over the term of the collaboration for delivery of 1.1 million compounds. PRI will also receive a non-exclusive license to the process of designing and manufacturing arrays of logically ordered chemical compounds, as claimed in ArQule's U.S. Patent No. 5,712,171, entitled ''Method of Generating a Plurality of Compounds in a Spatially Arranged Array.'' In addition, ArQule will be entitled to payments for milestones and royalties from sales of any products emanating from this collaboration.
Eric B. Gordon, ArQule's President and CEO, stated, ''This collaboration furthers our strategy to generate significant cash flow, spread risk, and accelerate the commercialization of ArQule-generated molecules. The compounds in ArQule's Mapping Array™ libraries have been tested internally and by our collaborators against more than 100 biological targets. Due to the significant amount of information on biological and chemical structure activity relationships inherent in our arrays, we are confident that our compounds will be highly productive.''
John M. Sorvillo, Ph.D., Vice President of Business Development of ArQule, Inc., stated, ''Our Mapping Array™ program, with its libraries of novel, diverse, small organic, pure compounds, has already been proven successful by the milestone we announced in July of this year relating to our collaboration with Monsanto, and we look forward to reaching comparable milestones in this collaboration.''
ArQule management noted that to date two of its other collaborators, Solvay Duphar B.V. and Amersham Pharmacia Biotech AB, have obtained non- exclusive licenses to the Company's U.S. Patent No. 5,712,171.
ArQule, Inc. is a leading chemistry company in accelerated drug discovery using its high throughput lead generation and lead optimization technologies. ArQule provides new pathways to product discovery by integrating five core technologies -- modular building block technology, structure-guided design, high speed parallel chemical synthesis, information technology and an Automated Molecular Assembly Plant (AMAP™) parallel synthesis system to accelerate the identification and optimization of drug and product development candidates in the pharmaceutical, biotechnology, and agrochemical industries. ArQule's Mapping Array™ program is comprised of libraries of novel, diverse, small organic, pure compounds used for screening against biological targets in new product discovery. ArQule's Directed Array™ program is an iterative parallel process used to produce analog sets of desired lead compounds and rapidly develop optimized drug candidates. ArQule is based in Medford and Waltham, Massachusetts.
Statements in this press release that are not strictly historical are ''forward looking'' statements as defined in the Private Securities Litigation Reform Act of 1995. The actual results may differ from those projected in the forward looking statements due to risks and uncertainties that exist in ArQule's operations and business environment, described more fully in ArQule's Annual Report on Form 10-K and Form 10-K/A for the year ended December 31, 1997 filed with the Securities and Exchange Commission.
SOURCE: ArQule, Inc.
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