Array BioPharma Achieves Milestone for Initiation of Phase I Clinical Trial for Anticancer Compound ARRY-142886 - Array to Receive $4 Million Milestone Payment From AstraZeneca -



    BOULDER, Colo., June 14 /PRNewswire-FirstCall/ -- Array BioPharma Inc.
 (Nasdaq:   ARRY) has initiated a Phase I clinical trial for its small molecule
 anticancer compound, ARRY-142886 (AZD6244).  Array partnered co-development
 and commercialization of this compound with AstraZeneca PLC in December 2003
 and is entitled to a $4 million milestone payment for initiating the trial.
 Array may receive additional development and commercialization milestones of
 over $81 million (dependent upon the number of successfully commercialized
 products) and royalties on product sales.
     The Phase I trial is designed to evaluate tolerability and
 pharmacokinetics of ARRY-142886 (AZD6244) following oral administration to
 patients with advanced cancer.  In addition, the trial is designed to examine
 patients for indications of biological activity utilizing tumor biomarkers and
 pharmacodynamic measurements.  The trial is currently being conducted at a
 single center and may subsequently be expanded to additional sites.
     "We believe that ARRY-142886 (AZD6244) holds great promise for cancer
 patients, and we look forward to further clinical progress," said Kevin Koch,
 Ph.D., President and Chief Scientific Officer, Array BioPharma.  "As our first
 proprietary compound begins human clinical testing, we continue to build a
 strong pipeline of orally active drug candidates focused on cancer and
 inflammatory disease."
     ARRY-142886 (AZD6244) is a novel, selective, ATP non-competitive inhibitor
 of MEK 1/2 that has demonstrated nanomolar activity against isolated MEK
 enzyme and numerous cancer cell lines.  MEK is a critical enzyme at the
 intersection of several biological pathways, which regulates cell
 proliferation, survival, migration and differentiation as part of the
 ras/raf/MEK/erk pathway.  Oral administration of ARRY-142886 (AZD6244) has
 demonstrated tumor suppressive or regressive activity in multiple preclinical
 models of human cancer, including melanoma, pancreatic, colon, lung and breast
 cancers.
     In December 2003, AstraZeneca PLC acquired exclusive, worldwide rights to
 ARRY-142886 (AZD6244) and related intellectual property for oncology
 indications.  Array filed an IND in January 2004 and is responsible for cGMP
 manufacturing of Phase I clinical supplies and performing a Phase I clinical
 trial.  AstraZeneca is responsible for all other aspects of clinical
 development and commercialization.
 
     About Array BioPharma:
     Array BioPharma is creating the next generation of orally active drugs by
 integrating the latest advances in chemistry, biology and informatics.  Our
 drug development pipeline is focused primarily in cancer and inflammatory
 disease and includes several promising small molecule drugs that regulate
 targets in therapeutically important disease pathways.  In addition, Array
 collaborates with leading pharmaceutical and biotechnology companies to
 design, create and optimize drug candidates across a broad range of
 therapeutic areas.  Our mission is to be the most efficient inventor of high
 quality drug candidates in the pharmaceutical industry.
     Founded in 1998, Array BioPharma is headquartered in Boulder, Colorado and
 employs over 250, including 200 scientists.  Array has out-licensed three
 proprietary research programs for co-development with AstraZeneca PLC and
 Genentech, Inc., and has research collaborations with leading pharmaceutical
 and biotechnology companies including AstraZeneca, Eli Lilly, GenPath,
 InterMune, Roche and Takeda.  For more information on Array, please go to
 www.arraybiopharma.com.
 
     About AstraZeneca PLC:
     AstraZeneca is a major international healthcare business engaged in the
 research, development, manufacture and marketing of prescription
 pharmaceuticals and the supply of healthcare services.  It is one of the top
 five pharmaceutical companies in the world with healthcare sales of over
 $18.8 billion and leading positions in sales of gastrointestinal, oncology,
 cardiovascular, neuroscience and respiratory products.  AstraZeneca is listed
 in the Dow Jones Sustainability Index (Global and European) as well as the
 FTSE4Good Index.  For more information, please visit
 www.astrazenecapressoffice.com
 
     Array BioPharma Forward-Looking Statement:
     This press release contains forward-looking statements within the meaning
 of the Private Securities Litigation Reform Act of 1995 that involve
 significant risks and uncertainties, including those discussed in our
 quarterly report filed on form 10-Q for the quarter ended March 31, 2004, and
 in other reports filed by Array with the Securities and Exchange Commission.
 Because these statements reflect our current expectations concerning future
 events, our actual results could differ materially from those anticipated in
 these forward-looking statements as a result of many factors.  These factors
 include, but are not limited to, our ability to achieve and maintain
 profitability, the extent to which the pharmaceutical and biotechnology
 industries are willing to collaborate with and fund third parties to
 in-license drug candidates for their product pipelines and on their drug
 discovery activities, the ability of our collaborators and of Array to meet
 drug discovery objectives tied to milestones and royalties, our ability to
 continue to fund and successfully progress internal research efforts and to
 create effective, commercially viable drugs, and our ability to attract and
 retain experienced scientists and management.  We are providing this
 information as of June 14, 2004.  We undertake no duty to update any
 forward-looking statements to reflect the occurrence of events or
 circumstances after the date of such statements or of anticipated or
 unanticipated events that alter any assumptions underlying such statements.
 
 

SOURCE Array BioPharma

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