ARRY: New 8K irt Genentech agreement. Expansion to include a new target under the existing collaboration #msg-29627295:
Array BioPharma Inc. (the "Company") and Genentech, Inc. ("Genentech") have entered into an amendment effective as of September 1, 2008 (the "Amendment") to the Drug Discovery Collaboration Agreement between the Company and Genentech dated December 22, 2003, as amended (the "Agreement"). Under the Amendment, the Company and Genentech added a new collaboration target and agreed to increase the number of the Company's full-time equivalent scientists ("FTEs") performing services under the Agreement. Genentech continues to have the right to reduce the number of FTEs under the Agreement after January 1, 2010, subject to higher minimum levels set forth in the Amendment. The Amendment also provides for the payment of a one-time license fee, research funding and milestone payments to the Company in connection with the new target.
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