Array and Amgen : Partner in Type 2 Diabetes

Dec 14, 2009 - Amgen to Pay $60 Million Up-front with Additional Potential Milestones and Royalties - Array BioPharma Inc. (NASDAQ: ARRY) and Amgen Inc.(NASDAQ: AMGN) announced that they entered into an agreement granting Amgen exclusive worldwide rights to Array's small-molecule glucokinase activator program, including ARRY-403, currently being tested in a Phase 1 clinical trial in patients with Type 2 diabetes.

Under the terms of the agreement, Array will receive an upfront payment of $60 million and additional contingent payments for certain clinical and commercial milestones. Array is responsible for completing the Phase 1 trial for ARRY-403. Amgen is responsible for future clinical development and commercialization for ARRY-403 and any resulting back-up compounds, with Array having an option to co-promote in the United States. Array will receive double digit royalties on sales of ARRY-403. In addition, Amgen will fund an agreed upon number of full-time Array employees as part of a two-year research collaboration intended to identify and advance second-generation glucokinase activators... Array BioPharma's Press Release - Amgen's Press Release -

Array BioPharma : Positive Preclinical Data on Its Glucokinase Activators in Type 2 Diabetes

Sept. 25, 2008 - Array BioPharma Inc. (Nasdaq: ARRY) announced the presentation of preclinical data on a novel small molecule glucokinase activator (GKA), ARRY-403, a drug for the treatment of Type 2 diabetes. The data showed that ARRY-403 demonstrated potent, highly glucose-blood-level dependent, control of both fasting and non-fasting glucose concentrations. Based on these and other results, Array plans to advance ARRY-403 into human clinical studies in the first half of 2009. The data were presented at an annual metabolic diseases conference in London... Array BioPharma's Press Release -