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Wyeth-Ayerst Invests $2 Million in ArQule

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MEDFORD, Mass.--Wyeth-Ayerst Pharmaceuticals, a division of American Home Products based in Radnor, Pa., has made a $2 million equity investment in ArQule, a combinatorial chemistry company here. ArQule will collaborate in the discovery and optimization of drug candidates for a minimum of 15 of Wyeth's selected pharmaceutical targets. Wyeth will pay ArQule approximately $28 million, including the $2 million equity investment, as well as additional fees and milestone payments, as compounds enter clinical trials, ArQule reported. In addition, ArQule will be entitled to royalties from sales of any products emanating from this collaboration.

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