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ArQule Announces Management Team Changes

Friday, March 15th 2019 at 11:00am UTC

BURLINGTON, Mass.–(BUSINESS WIRE)– ArQule, Inc. (Nasdaq: ARQL) today announced that Robert Weiskopf, Senior
Vice President, Chief Financial Officer and Treasurer, has decided to
retire effective March 29 of this year. In conjunction with Mr.
Weiskopf’s departure, ArQule is naming Marc Schegerin, MD as Chief
Financial Officer and Head of Strategy, effective as of Mr. Weiskopf’s
retirement. Dr. Schegerin joined ArQule in May 2018 and most recently
served as Senior Vice President, Head of Strategy, Finance and
Communication.

“Rob has played a key role at ArQule throughout his impressive
twelve-year tenure and built a first-class finance organization. I want
to thank him for his many contributions and wish him the best in his
future endeavors,” said Paolo Pucci, Chief Executive Officer.

“Marc brings a wealth of relevant experience from both industry and
healthcare investment banking and has played a central role in multiple
key initiatives at ArQule since joining the Company last year. I am
delighted to have Marc assume the role of CFO and look forward to
partnering with him as we progress our pipeline of novel, small molecule
kinase inhibitors in both cancer and rare diseases,” continued Mr. Pucci.

Dr. Schegerin joined ArQule in May 2018 as Senior Vice President, Head
of Corporate Strategy, Finance and Communication from Citigroup where he
served as a Healthcare Investment Banking Director. Prior to Citigroup,
Dr. Schegerin held healthcare investment banking positions at Merrill
Lynch as Vice President and at Goldman Sachs. Dr. Schegerin also served
in multiple industry roles, including Biogen and Sage Therapeutics. He
received his M.D. from Dartmouth Medical School and M.B.A. from the Tuck
School of Business at Dartmouth.

About ArQule
ArQule is a biopharmaceutical company engaged
in the research and development of targeted therapeutics to treat
cancers and rare diseases. ArQule’s mission is to discover, develop and
commercialize novel small molecule drugs in areas of high unmet need
that will dramatically extend and improve the lives of our patients. Our
clinical-stage pipeline consists of four drug candidates, all of which
are in targeted, biomarker-defined patient populations, making ArQule a
leader among companies our size in precision medicine. ArQule’s pipeline
includes: ARQ 531, an orally bioavailable, potent and reversible dual
inhibitor of both wild type and C481S-mutant BTK, in phase 1 for
patients with B-cell malignancies refractory to other therapeutic
options; miransertib (ARQ 092), a potent and selective inhibitor of the
AKT serine/threonine kinase, planned to initiate registrational trial
cohorts in Proteus syndrome and PROS in 2019, and in phase 1b in
combination with the hormonal therapy, anastrozole, in patients with
advanced endometrial cancer; ARQ 751, a next generation highly potent
and selective AKT inhibitor, in phase 1 for patients with AKT1 and PI3K
mutations; and derazantinib, a multi-kinase inhibitor designed to
preferentially inhibit the fibroblast growth factor receptor (FGFR)
family, in a registrational trial for iCCA in collaboration with Basilea
and Sinovant. ArQule’s current discovery efforts are focused on the
identification and development of novel kinase inhibitors, leveraging
the Company’s proprietary library of compounds.

Contacts

Corporate Contact:
Kathleen Farren
Investor
Relations &

Executive Assistant to the CFO
ir@arqule.com

Media Contact:
Cait Williamson, Ph.D.
LifeSci Public
Relations (646) 751-4366
cait@lifescipublicrelations.com

www.ArQule.com

Source: ArQule, Inc.


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