ArQule Takes the Drug Discovery Plunge

Over the past two-and-one-half years, ArQule's new management has refocused the once divided company, and repaired its reputation in the eyes of the financial community. That leadership also decided that ArQule can reach its growth potential only by moving away from a fee-for-services model and becoming a full-fledged drug discovery company. It's a transition that few companies have successfully managed, in part because of the tough balancing act required to build the requisite R&D infrastructure, while devoting sufficient resources to the near-term activity needed to build that infrastructure. ArQule will likely try to acquire biology-based companies to gain control over its own targets, but must deal with the valuation imbalance that still favors genomics/biology firms. But ArQule's management believes that its technology platform--as enhanced by the addition of predictive ADMET modeling--will boost its ability to process target into targets and thus its value.

By Jeffrey Dvorin

When Stephen Hill, MD took the reins as president and CEO of ArQule Inc. in April 1999, he faced...

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