Array BioPharma Inc. achieved a research milestone in its collaboration with Genentech, Inc. Genentech and Array initiated an oncology collaboration in January 2004 to identify small molecule development compounds against multiple targets. The milestone resulted from the nomination of a clinical candidate and its advancement into regulated safety assessment testing. Array is entitled to additional milestone payments and potential royalties from Genentech based upon continued success of the program.
"Advancing the clinical candidate demonstrates the success of our collaboration with Genentech," said Kevin Koch, President and Chief Scientific Officer, Array BioPharma. "We look forward to continued progress with our Genentech collaboration to potentially bring new targeted anti-cancer therapies to patients," he added.
Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat life threatening and debilitating diseases.