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ARTICLE | Company News

Array BioPharma, Loxo deal

July 15, 2013 7:00 AM UTC

Array granted newco Loxo exclusive, worldwide rights to develop and commercialize undisclosed cancer candidates and related IP targeting an undisclosed oncogenic activating mutation. Loxo will fund preclinical research conducted by Array over a three-year research phase, which Loxo may extend for up to two years. Loxo will also be responsible for clinical development and commercialization. Loxo said the lead candidate is slated to enter the clinic in mid-2014. The companies also will discover and develop small molecules for mutually agreed upon cancer targets. Array received an undisclosed equity stake in Loxo and is eligible for up to $434 million in milestones, plus royalties. The companies declined to disclose details. ...