Array signs deal to collaborate with Biogen
Last Updated: 14:14 May 28, 2014
Boulder-based Array (Nasdaq: ARRY) and Biogen Idec (Nasdaq: BIIB), based in Cambridge, Mass., will collaborate on the discovery and development of kinase inhibitors, which can combat inflammatory diseases that can affect almost any part of the body, including the central nervous system, joints and blood vessels.
Terms of the deal were not disclosed.
Biogen will be responsible for clinical development and commercialization. The agreement includes research funding for three years, various milestone payments and royalties to Array.
The lead inhibitors to be researched further and then developed were discovered through Array's Kinase-Directed Phenotypic Screening Platform. The technology behind the platform is based on Array's experience in kinase inhibitor chemistry and screening.
"Array has a strong track record in the discovery of novel compounds, and we are delighted to collaborate with them," said Jo Viney, vice president of Immunology Research at Biogen Idec, in a prepared statement. "We are encouraged by the potential of this program to address inflammatory disease and are excited to add it to our immunology research portfolio."
Nicholas A. Saccomano, Array's new chief scientific officer, said he is looking forward to the collaboration.
"With 15 Array-invented drugs currently in clinical development benchmarking the quality of our science, we are confident in the team's ability to advance the program with the ultimate goal of improving care for patients with inflammatory disease," Saccomano said in a prepared statement.
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