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|Array BioPharma to Expand Laboratory Space|
|BOULDER, Colo., Feb 19, 2002 /PRNewswire-FirstCall via COMTEX/ -- Array
BioPharma Inc. (Nasdaq: ARRY) today announced the signing of a long-term lease
agreement for additional laboratory space adjacent to its Longmont, Colorado
site. This new lease will increase total laboratory space to approximately
219,000 square feet and be phased in over the next three years.
"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," said Robert E. Conway, Chief Executive Officer. "This additional laboratory space will enable Array to continue our rapid growth over the next three years. Coupled with our Boulder location, Array's expanded facilities will together accommodate up to 350 scientists and a total of 450 employees."
The new lease provides an additional 29,000 square feet of laboratory space on Array's Longmont campus, and will be able to house 45 additional scientists. Array is also expanding its Boulder facility, adding 85,000 square feet. Currently, Array occupies a total of 105,000 square feet of space and employs over 225 people in Boulder County.
About Array BioPharma:
Array BioPharma is a drug discovery company inventing new small molecule drugs through the integration of chemistry, biology and informatics. Our experienced scientists use our integrated set of drug discovery technologies, which we call the Array Discovery Platform, to invent novel small molecule drugs in collaboration with leading pharmaceutical and biotechnology companies and to build our own pipeline of proprietary drug candidates. For more information on Array BioPharma, please visit our web site at www.arraybiopharma.com .
Array Forward-Looking Statement
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 Registration Statement on Form S-3 filed on January 22, 2002, as amended. 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, the ability of our collaborators and of Array to meet drug discovery objectives tied to milestones and royalties, and our ability to attract and retain experienced scientists and management. We are providing this information as of February 19, 2002. 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: Tricia Haugeto of Array BioPharma Inc., +1-303-386-1193, email@example.com