Array BioPharma Inc. and Celgene Corp. have announced an agreement to collaborate in discovery, development, and commercialization of therapeutics for cancer and inflammation. Under the terms of the agreement, Celgene will pay Array BioPharma $40 million at the outset of the collaboration. Array and Celgene will mutually select four therapeutic targets, and Array will focus on the discovery and clinical development (through Phase 1 or 2a) of compounds relating to those targets. After this stage, Celgene will have the option to choose compounds developed during the collaboration research that target two of the four mutually agreed upon targets. Celgene will have exclusive worldwide rights in the chosen compounds, while Array will retain limited co-promotion rights in the U.S. market. Also, Array may receive payments of up to about $200-$300 million depending on certain milestones achieved, and royalties on net sales. Array is a biopharmaceutical company that specializes in drug discovery, development, and commercialization of small molecule drugs, particularly as therapeutics for cancer and inflammatory diseases.
Jason Derry, Ph.D., who graduated with honors from DePaul University College of Law, is a molecular biologist and founding author of Patent Docs.
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