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Biotech / Medical : Array Biopharma, Inc -- Ignore unavailable to you. Want to Upgrade?

To: mcbio who wrote (114)	8/8/2011 4:18:21 PM
From: sjemmeri	Read Replies (2) \| Respond to of 321

Business goes on: Array Announces New Oncology Agreement with Genentech Font size: A \| A \| A 4:01 PM ET 8/8/11 \| BusinessWire Array BioPharma (Nasdaq: ARRY) today announced an oncology agreement with Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY), for the development of each company's small-molecule Checkpoint kinase 1 (ChK-1) program. The programs include Genentech's compound GDC-0425 (RG7602), currently in Phase 1, and Array's compound ARRY-575, which is being prepared for an investigational new drug application to initiate a Phase 1 trial in cancer patients. Under the terms of the agreement, Genentech is responsible for all clinical development and commercialization activities. Array will receive an upfront payment of $28 million and is eligible to receive clinical and commercial milestone payments up to $685 million and up to double-digit royalties on sales of any resulting drugs. Full financial terms have not been disclosed.