Array grants Aslan full rights to varlitinib

Array BioPharma Inc. (NASDAQ:ARRY) granted Aslan Pharmaceuticals Ltd. (TPEx:6497) exclusive, worldwide rights to develop and commercialize cancer candidate varlitinib (ASLAN001). The new deal replaces a 2011 deal in which Aslan received rights only to develop and sublicense, but not commercialize, the oral small molecule inhibitor of EGFR (ErbB1; HER1), HER2, HER3 and HER4.

Aslan will pay Array $12 million up front and up to an additional $12 million within the next 12 months. Array is also eligible for $30 million in development milestones and $75 million in sales milestones, plus tiered royalties in the low double-digits...