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Array BioPharma to Triple Laboratory Space Over Next Four Years
BOULDER, Colo., April 4 /PRNewswire/ -- Array BioPharma Inc. (Nasdaq: ARRY) today announced it has entered into a long-term lease at its existing Boulder site. This new lease will increase total laboratory space to 190,000 square feet, to be phased in over the next four years. Array's facilities will then accommodate 300 to 350 scientists and a total of 400 employees.
"State-of-the-art laboratories are critical to our strategy of becoming the industry's premier drug discovery company creating the next generation of drugs. This additional laboratory space on our Boulder campus will enable Array to continue its rapid growth over the next four years," said Robert E. Conway, Array BioPharma's Chief Executive Officer. "We believe the optimal size for a drug discovery capability includes a multidisciplinary team of 300 to 350 scientists at a single location."
Array's experienced scientists have created a drug discovery platform utilizing the latest tools and technologies including structural biology, high throughput screening, analytical, computational, combinatorial and medicinal chemistry, drug metabolism as well as process research and development.
The new lease is for an additional 114,000 square feet of space on Array's Boulder campus. This additional space, coupled with the previously announced expansion of Array's Longmont, Colorado, facility, will increase total laboratory and office space to 190,000 square feet by 2004 from its current 50,000 square feet. Today, Array employs 150 people in Boulder County.
Array BioPharma is a drug discovery company creating new drugs through innovations in chemistry and structural biology. Array's world-class scientific team integrates chemistry and structural biology with an information-based technology platform to create higher quality drug candidates. Array provides drug discovery expertise to collaborators and for its own proprietary research. For more information on Array BioPharma, please visit the company's web site at www.arraybiopharma.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties, including those discussed below and described more fully in reports filed by Array with the Securities and Exchange Commission, including our final prospectus as filed on November 16, 2000. Because these statements reflect our current expectations concerning future events, our actual results could differ materially from those anticipated in these forward-looking statements as a result of many factors. These factors include, but are not limited to, our ability to achieve and maintain profitability, the extent to which the pharmaceutical and biotechnology industries are willing to collaborate with third parties on their drug discovery activities and our ability to attract and retain experienced scientists and management. We are providing this information as of April 4, 2001. We undertake no duty to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements or of anticipated or unanticipated events that alter any assumptions underlying such statements. SOURCE Array BioPharma Inc.
CONTACT: Joanna K. Money, Ph.D., of Array BioPharma Inc., 303-381-6676, email@example.com/