Biotech Values

[bladerunner1717]

ARRY has a deal with Genentech, too.

No one ever seems to mention this deal. Maybe it's just too early-stage. Does anyone here know about this Checkpoint kinase 1 approach?


Array BioPharma and Genentech's Strategic Alliance Voted Breakthrough Alliance of 2012
Business WirePress Release: Array BioPharma Inc. – Mon, May 14, 2012 6:30 PM EDT


BOULDER, Colo.--(BUSINESS WIRE)--

Array BioPharma Inc. (NASDAQ: ARRY - News) announced today that the strategic alliance between Array and Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY), has been honored with the Breakthrough Alliance Award of 2012. The award, sponsored by Deloitte Recap, was presented at the Allicense 2012 Conference in San Francisco. Annually, the Allicense Conference nominates five biotech-pharmaceutical alliances as the breakthrough deals of the previous year. The award is bestowed upon the alliance that receives the most votes by biotech and pharmaceutical business development and licensing executives.

"Our business strategy maximizes the value of our scientific innovations through strategic alliances, such as our alliance with Genentech,” said David Snitman, Ph.D., Chief Operating Officer and Vice President, Business Development, Array BioPharma. “I believe this alliance was distinguished due to its innovative deal structure, which truly aligns both parties to do what is in the best interest of science and patients. Array will receive the same economic terms for the development and commercialization of either company’s ChK-1 inhibitor, creating a real win-win for both companies. We are pleased to have received this recognition from our peers in the biotechnology and pharmaceutical industry.”

About the Array / Genentech Strategic Alliance

In August 2011, Array entered into an oncology agreement with Genentech 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 recently entered Phase 1. Under the terms of the agreement, Genentech is responsible for all clinical development and commercialization activities. Array received 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.

About Array BioPharma

Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small-molecule drugs to treat patients afflicted with cancer and inflammatory diseases. Array has four core proprietary clinical programs: ARRY-614 for myelodysplastic syndromes, ARRY-520 for multiple myeloma, ARRY-797 for pain and ARRY-502 for asthma. In addition, Array has 10 partner-funded clinical programs including two MEK inhibitors in Phase 2: selumetinib with AstraZeneca and MEK162 with Novartis. For more formation on Array, please go to www.arraybiopharma.com.


Bladerunner