Biotech Values

[BTH]

ARRY

Dont know if this is what you saw as well:

On July 12, 2011, Array entered into a Collaboration and License Agreement with
ASLAN Pharmaceuticals Pte Ltd., a Singapore corporation ("ASLAN"), dated July
12, 2011, granting ASLAN the exclusive worldwide right to develop Array's HER2
/ EGFR inhibitor, ARRY-543, currently entering phase 2 development for solid
tumors. Under the agreement, ASLAN will fund and conduct clinical development
activities for ARRY-543 through clinical proof of concept. Upon achievement of
clinical proof of concept, ASLAN has agreed to seek to license the program to a
third party for phase 3 development and commercialization. In consideration for
the rights granted to ASLAN under the agreement, Array will receive a
significant portion of the consideration received under any such partnering
transaction. Under the agreement, ASLAN also has an option to negotiate to
license a second undisclosed compound from Array.




The agreement will remain in effect for two years after conclusion of the
initial development plan, unless ASLAN has entered into a license agreement
with a third party for the further development and commercialization of the
program, in which case the agreement shall remain in force and effect. Either
party may terminate the agreement prior to expiration of the term following
breach of the agreement by the other party. ASLAN is responsible for diligently
advancing development ARRY-543 under an agreed upon development plan. Array and
ASLAN have also agreed to indemnify the other party for certain of their
respective manufacturing and development activities under the agreement.