Array signs $685 million agreement with Genentech
Array BioPharma has signed an oncology agreement with Genentech, a member of the Roche Group, for the development of each company's small-molecule checkpoint kinase 1 (ChK-1) program. The programs include Genentech's compound GDC-0425 (RG7602), currently in phase I, and Array's compound ARRY-575, which is being prepared for an investigational new drug application to initiate a phase I trial in cancer patients.
Under the terms of the agreement, Genentech is responsible for all clinical development and commercialization activities. Array will receive an upfront payment of $28 million and is eligible to receive clinical and commercial milestone payments up to $685 million and up to double-digit royalties on sales of any resulting drugs.