Investor to monitor ArQule

By Lisa Kerner

Charlotte, N.C., April 11 - ArQule, Inc.'s management and board of directors held discussions with affiliates of Biotechnology Value Fund, LP (Biotech) to enable Biotech investors to monitor and evaluate ArQule's business, it was reported in a schedule 13D filing with the Securities and Exchange Commission.

Additional discussions may be held between ArQule and Biotech, the filing said.

The investors reported ownership of 10,162,060 shares, or 23.3%, of the Woburn, Mass., biotechnology company.

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