ArQule grants Roivant rights to derazantinib in China and Taiwan

ArQule Inc. (NASDAQ:ARQL) granted Roivant Sciences GmbH (Basel, Switzerland) exclusive rights to develop and commercialize derazantinib (ARQ 087) in China, including Hong Kong and Macau, and Taiwan.

ArQule will receive $3 million upfront and is eligible for a $2.5 million development milestone in the first year. ArQule is also eligible for regulatory and commercial milestones, as well as royalties...