Array BioPharma, Pierre Fabre announce collaboration for two novel oncology products
Tuesday, November 17, 2015
Array BioPharma Inc Co and Pierre Fabre to globally develop and commercialize Array's late-stage novel oncology products Binimetinib and Encorafenib.
Array to receive a $30 million up-front payment and up to $425 million in additional development and commercialization milestones.
Array retains full commercialization rights to Binimetinib and Encorafenib in United States, Canada, Japan and Korea.
Pierre Fabre to have exclusive rights to commercialize both products in all other countries, including Europe, Asia and Latin America.
Nemo phase 3 trial remains on-track for top-line results by end of 2015.
Array and Pierre fabre have agreed to split future development costs on a 60:40 basis.
All ongoing Binimetinib and Encorafenib clinicaltrials remain substantially funded through completion by Novartis.
reuters.com
