April 17, 2018 / 11:07 AM / 8 days ago

BRIEF-Arqule And Basilea Enter Into Exclusive License Agreement For Derazantinib

April 17 (Reuters) - ArQule Inc:

* ARQULE AND BASILEA ENTER INTO EXCLUSIVE LICENSE AGREEMENT FOR DERAZANTINIB IN THE US, EU, JAPAN AND REST OF WORLD EXCLUDING GREATER CHINA

* ARQULE INC - UNDER TERMS OF AGREEMENT, ARQULE WILL RECEIVE AN UPFRONT PAYMENT OF $10 MILLION

* ARQULE INC - ARQULE ELIGIBLE TO RECEIVE UP TO $336 MILLION INCLUDING UPFRONT, REGULATORY AND COMMERCIAL MILESTONE PAYMENTS

* ARQULE - UNDER CERTAIN CIRCUMSTANCES, CO MAY HAVE OPPORTUNITY TO PROMOTE DERAZANTINIB IN U.S. DIRECTLY

* ARQULE - ALSO ENTITLED TO RECEIVE STAGGERED SINGLE-DIGIT TO DOUBLE-DIGIT ROYALTIES ON NET SALES UPON COMMERCIALIZATION

* ARQULE - BASILEA WILL BE RESPONSIBLE FOR ALL COSTS AND EXPENSES OF DEVELOPMENT, MANUFACTURE AND COMMERCIALIZATION IN ITS TERRITORY Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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