BOULDER, Colo., April 17 /PRNewswire-FirstCall/ -- Array BioPharma Inc.
(Nasdaq: ARRY) announced today that a research milestone was achieved in its
collaboration with Genentech, Inc. (NYSE: DNA). Genentech and Array initiated
an oncology collaboration in January 2004 to identify small molecule
development compounds against multiple targets. The milestone resulted from
the nomination of a clinical candidate and its advancement into regulated
safety assessment testing. Array is entitled to additional milestone payments
and potential royalties from Genentech based upon continued success of the
program.
"Advancing the clinical candidate demonstrates the success of our
collaboration with Genentech," said Kevin Koch, Ph.D., President and Chief
Scientific Officer, Array BioPharma. "We look forward to continued progress
with our Genentech collaboration to potentially bring new targeted anti-cancer
therapies to patients."
About Array BioPharma:
Array BioPharma Inc. is a biopharmaceutical company focused on the
discovery, development and commercialization of targeted small molecule drugs
to treat life threatening and debilitating diseases. Our proprietary drug
development pipeline is focused on the treatment of cancer and inflammatory
disease and includes clinical candidates that are designed to regulate
therapeutically important targets. In addition, leading pharmaceutical and
biotechnology companies collaborate with Array to discover and develop drug
candidates across a broad range of therapeutic areas. For more information on
Array, please go to www.arraybiopharma.com.
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 in our annual
report filed on form 10-K for the year ended June 30, 2005, and in other
reports filed by Array with the Securities and Exchange Commission. 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 in-license drug candidates for their product
pipelines and to collaborate with and fund third parties for their drug
discovery activities, our ability to out-license our proprietary candidates on
favorable terms, our ability to continue to fund and successfully progress
internal research efforts and to create effective, commercially viable drugs,
risks associated with our dependence on our collaborators for the clinical
development and commercialization of our out-licensed drug candidates, the
ability of our collaborators and of Array to meet drug objectives, including
clinical trials, tied to milestones and royalties, and our ability to attract
and retain experienced scientists and management. We are providing this
information as of April 17, 2006. 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,
thaugeto@arraybiopharma.com/
Web site: http://www.arraybiopharma.com /
