Array Achieves Amgen Clinical Milestone

Array BioPharma, Inc. has achieved an $8.5 million milestone in its collaboration with Amgen for the worldwide development of the small-molecule glucokinase activator (GKA) program, including AMG 151. The milestone was achieved after reaching predefined patient enrollment in a Phase IIa trial.
 
The Phase IIa trial is a randomized, double-blind, placebo-controlled study of AMG 151 in combination with metformin in patients with type 2 diabetes. The primary endpoint is change in fasting plasma glucose levels from baseline to end of treatment.
 
Under the agreement, Array received an upfront fee of $60 million and is entitled to receive as much as $658 million in additional milestone payments if all clinical and commercialization milestones for AMG 151 and at least one backup compound are achieved. Array will also receive royalties on sales.