12:00 AM
Apr 26, 2010
 |  BioCentury  |  Strategy

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MEK inhibitor cancer deal with Novartis could be Array's last worldwide deal

Array BioPharma Inc. believes its latest deal could be the last time it out-licenses worldwide rights to assets created by its small molecule discovery and design platform. Last week's deal with Novartis AG, plus a collaboration late last year with Amgen Inc., gave Array co-promotion rights in the U.S., providing the potential to get a sales force on the ground to commercialize its own products.

Array, which has been building its bioinformatics-driven discovery platform since 1998, has 16 compounds in development through partners. But it has nine unpartnered programs, four of which are in the clinic.

In last week's deal, Array granted Novartis exclusive, worldwide rights to co-develop and commercialize small molecule MEK inhibitors for cancer. The agreement includes ARRY-162 and ARRY-300, both of which are in Phase I testing. The biotech will receive $45 million, comprising an upfront and a milestone payment, and is eligible for $422 million more in milestones, plus double-digit royalties.

Array will pay a percentage of development costs and be responsible for completing the ongoing trial of ARRY-162, and will...

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