BOTHELL, Wash.— August 3, 2000—ICOS Corporation (Nasdaq:ICOS) and Array BioPharma announced today that they have expanded their existing drug discovery collaboration and have entered into a Process Research and Manufacturing Agreement. ICOS has exclusive worldwide rights to develop and market any products resulting from the collaboration. ICOS will provide funding to Array and make milestone payments for the development and commercialization of products resulting from the collaboration.
Since the inception of the collaboration in 1999, Array’s scientists in collaboration with ICOS scientists, have identified a clinical candidate for one of ICOS’ initial collaboration targets, an inhibitor of PDE4. Based upon this success, ICOS is contracting with Array for process research and manufacturing as well as expanding the nature of their initial drug discovery collaboration.
"We are enthusiastic about expanding our relationship with ICOS, one of the first companies to initiate a drug discovery program with Array." said Kevin Koch, Ph.D., President and Chief Science Officer at Array. "ICOS is taking full advantage of our integrated process for rapidly creating quality development candidates. We believe that this collaboration is a validation of Array’s approach of accelerating drug discovery through innovations in chemistry."
"Array has succeeded with a difficult project in a remarkably short period of time." said W. Michael Gallatin, Ph.D., VP and Scientific Director of ICOS. "We are excited about this new clinical candidate and look forward to continuing a very productive relationship with Array."
ICOS is discovering and developing new pharmaceuticals by seeking points of intervention in disease processes that may lead to more specific and efficacious drugs. The Company’s research and drug development programs involve both acute and chronic conditions such as acute respiratory distress syndrome, cancer and erectile dysfunction.
Array BioPharma, Inc. is a leading provider of small molecule drug discovery research turning genomic discoveries into breakthrough drugs. For additional information, visit the website: www.arraybiopharma.com.
NOTE: This news release contains forward-looking statements that involve risks and uncertainties, including risks associated with clinical development, regulatory approvals, product commercialization and other risks described from time to time in the SEC reports filed by ICOS, including the most recently filed Form 10-K and Form 10-Q.