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Business Update
Array BioPharma achieves research milestone in Genentech collaboration
May 18th, 2006
Array BioPharma, Inc., (ARRY) announced that a research milestone was achieved in its collaboration with Genentech, Inc. (DNA). 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,"...
Source: Biotech Business Week (2006-05-18)
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