Array BioPharma, Celgene in Global R&D Alliance

Array BioPharma, Inc. has entered a strategic collaboration with Celgene Corp. for its preclinical development program targeting a novel inflammation pathway. Array will receive an upfront payment of $11 million and Celgene will have an exclusive option to license multiple clinical development candidates. Array is eligible to receive potential milestone payments of as much as $376 million based certain development, regulatory and sales objectives. Array is also entitled to receive royalties on sales and will retain all rights to the program if Celgene does not exercise its option.
 
“We are pleased to announce this new collaboration with Celgene focused on a novel inflammation pathway,” said Kevin Koch, Ph.D., president and chief scientific officer, Array BioPharma. “Given Celgene’s global leadership and expertise in the development and commercialization of innovative therapies and Array’s solid track record of inventing and progressing targeted drugs into clinical trials, we believe this alliance will maximize the value of a very exciting and innovative program.”