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ArQule's Deal Falls Through; Refocusing Cuts Staff By Third

By Randall Osborne


Thursday, December 12, 2002
Although it's searched for two years - and had what seemed like a good prospect on the line for the past 12 months - ArQule Inc. has been unable to pair up with a heavyweight partner to use its acquired ADME chemistry screening technology. Late Tuesday, the company said it is reducing staff by 31 percent (128 people), and plans to close two facilities. (BioWorld Today)

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