Array BioPharma to receive $1 million milestone payment from AstraZeneca

By Elaine Rigoli

Tampa, Fla., April 10 - Array BioPharma, Inc. and AstraZeneca AB selected a third compound for their small molecule MEK anti-cancer program, triggering a $1 million milestone payment from AstraZeneca to Array.

The second compound was selected in January 2006, which also paid a $1 million milestone to Array, according to a news release.

In December 2003, Array partnered the oncology portion of its MEK program, including its lead compound, ARRY-142886 (AZD6244), for co-development and commercialization with AstraZeneca.

At that time, Array and AstraZeneca established a collaboration for research and development of additional clinical candidates.

Located in Boulder, Colo., Array BioPharma is a biopharmaceutical company focused on the discovery, development and commercialization of orally active drugs for the treatment of cancer and inflammatory disease.

AstraZeneca is a London-based developer of prescription pharmaceuticals.

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