1 EXHIBIT 23.1 CONSENT OF INDEPENDENT ACCOUNTANTS We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (File No. 333-19469) pertaining to the 1996 Employee Stock Purchase Plan, the Registration Statement on Form S-8 (File No. 333-25369) pertaining to the 1996 Director Stock Option Plan and the Registration Statement on Form S-8 (File No. 333-25371) pertaining to the Amended and Restated 1994 Equity Incentive Plan of ArQule, Inc., of our report dated February 9, 1998, except as to the last paragraph of Note 2 which is as of April 17, 1998, appearing on page 21 on this Form 10-K. PRICE WATERHOUSE LLP Boston, Massachusetts April 17, 1998 40