ArQule, Inc. and Daiichi Sankyo Co., Ltd. have entered into two agreements forming a strategic relationship for the development and discovery of new oncology therapeutics.
   
The two companies will co-develop ARQ 197, an orally administered, small molecule inhibitor of the c-Met receptor tyrosine kinase, to treat cancer. They will also advance the application of ArQule’s kinase inhibitor discovery platform (AKIP) to develop a new generation of highly selective anti-cancer kinase inhibitors. Daiichi Sankyo will pay a $75 million upfront payment to ArQule for the two agreements.
   
“We are delighted to welcome Daiichi Sankyo as a partner in our shared quest to bring innovative cancer therapeutics to patients and their physicians,” said Paolo Pucci, chief executive officer of ArQule. “With this announcement, we complete the ARQ 197 partnership process and set the stage to bring the ARQ 197 development program to the next level. We are also very pleased to broaden this relationship by welcoming Daiichi Sankyo as our first partner for ArQule’s AKIP platform.    
   
“Daiichi Sankyo looks forward to being able to collaborate with ArQule to realize differentiated and innovative approaches in the treatment of these devastating diseases,” said Takashi Shoda, president and chief executive officer of Daiichi Sankyo. “This strategic partnership is the next important milestone for Daiichi Sankyo to solidify a strong and viable pipeline in oncology.”