Array BioPharma Inks Drug Discovery Collaboration Deal With Biogen Idec

(RTTNews) - Array BioPharma (ARRY) announced a collaboration agreement with Biogen Idec (BIIB) for the discovery and development of inhibitors targeting a novel kinase for the treatment of autoimmune disorders. The collaboration target and lead inhibitors were discovered via. Array's proprietary Kinase-Directed Phenotypic Screening Platform. This technology relies on Array's deep experience in kinase inhibitor chemistry and phenotypic screening which can be applied to any therapeutic area where a desired cellular phenotype can be envisioned.

As part of the agreement, Biogen and Array would collaborate on the discovery of the novel kinase inhibitors. Biogen would be responsible for all aspects of clinical development and commercialization. The deal includes research funding for 3 years, various milestone payments payable on achievement of certain development and commercial milestones, and royalties to Array.