Array BioPharma Announces Oncology Collaboration With Genentech

06-Jan-2004

BOULDER, Colo., Jan. 5 - Array BioPharma today announced a licensing and collaboration agreement with Genentech, Inc. for multiple targets in the field of oncology. As part of this agreement, Array and Genentech will form a research collaboration to advance two of Array's proprietary oncology programs into clinical development. These programs include small molecule leads developed by Array along with additional Array intellectual property involving Array's drug discovery platform. Under the agreement, Array will receive an upfront payment and research funding, with the potential to also receive development milestones and royalties on resulting product sales. "We are delighted to collaborate with Genentech, a clear leader in the field of oncology," said Robert E. Conway, Chief Executive Officer, Array BioPharma. "This collaboration leverages Array's proprietary small molecule drug discovery expertise with Genentech's cancer expertise, with the goal of creating products to address one the world's largest unmet medical needs and market opportunities." "Array has a proven drug discovery capability that has created a number of exciting early stage programs around multiple oncology targets. We plan to work with Array to maximize their potential," said Marc Tessier-Lavigne Ph.D., Senior Vice President, Research Drug Discovery, Genentech. "We believe this collaboration with Array complements our existing oncology portfolio and further strengthens our position as a leader in cancer research." Details of the Transaction Under the terms of this agreement, Genentech and Array will collaborate on the discovery of clinical candidates directed against two cancer targets. Genentech will have the sole responsibility for clinical development and commercialization of the resulting products. Genentech has reserved the right to add additional programs to this collaboration.

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