Kaye Scholer represented Novartis in its collaboration agreement with Array BioPharma Inc., a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer, inflammatory and metabolic diseases. The agreement involves the worldwide development of Array’s lead product candidate referred to as ARRY-162, currently in a Phase 1 cancer trial, its back-up, ARRY-300, and other “MEK” inhibitors.
Under the terms of the agreement, Array will initially receive $45 million up-front and is eligible to receive an additional $422 million if certain clinical, regulatory and commercial milestones are achieved, plus royalties. In addition, Array plans to co-develop ARRY-162 in one or more specific indications and will fund a portion of development costs.
The Kaye Scholer team included Adam Golden and Dino Yiannopoulos, with additional assistance from Saul Morgenstern and Andrew Kress.
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