Array Biopharma and Global Blood Therapeutics Announce Drug Discovery Collaboration Focused on Hematology
BOULDER, Colo. and SOUTH SAN FRANCISCO, Calif., March 5, 2013 /PRNewswire/ -- Array BioPharma Inc. (NASDAQ: ARRY) and Global Blood Therapeutics today announced a multi-target drug discovery collaboration agreement to identify small molecule lead compounds targeting chronic blood-based diseases. Array will develop assays and screen its proprietary lead generation library of 300,000 small molecules to identify both active site and allosteric modulators of certain Global Blood targets. Array's library will allow for rapid hit confirmation and subsequent lead optimization.
"We look forward to deploying our drug discovery platform and sharing our expertise with companies like Global Blood, a venture-backed company founded by Third Rock Ventures," said Kevin Koch, Ph.D., President and Chief Scientific Officer for Array. "Our mutual goal is to accelerate the drug discovery and development process by combining Global Blood's expertise in disease biology and computationally supported medicinal chemistry with Array's established drug discovery platform."
"We view this collaboration as a complement to our internal, broad based drug discovery research," said Brian W. Metcalf, Acting Chief Scientific Officer for Global Blood. "This relationship leverages Array's comprehensive drug discovery platform with Global Blood Therapeutics' class-leading expertise in blood biology, with the goal to revolutionize the treatment of chronic blood-based diseases."
About Array BioPharma
Array BioPharma Inc. is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. During 2013, Array expects to make substantial progress in generating data to inform registration study decisions for our wholly-owned hematology programs, ARRY-520 and ARRY-614. Array-invented MEK162 will be tested in a Phase 3 trial in NRAS melanoma which is scheduled to start in April 2013, as well as BRAF mutant melanoma later in 2013 (with Novartis). Also, AstraZeneca recently announced a potential start of a Phase 3 trial with Array-invented selumetinib in non-small cell lung cancer during the second half of 2013. For more information on Array, please go to www.arraybiopharma.com.
About Global Blood Therapeutics
Global Blood Therapeutics is a product-focused, biopharmaceutical company building a pipeline of innovative, oral medicines to revolutionize the treatment of chronic blood-based diseases and genetic disorders for which there are currently no available cures and only extremely limited therapeutic options. Global Blood Therapeutics' approach combines the most advanced computational biology and protein-ligand modeling with empirical medicinal chemistry and screening capabilities, while leveraging its team's world-leading expertise in blood biology and proven success in drug discovery and development. Global Blood Therapeutics is a private company launched in 2012 by Third Rock Ventures with an experienced leadership team and renowned scientific founders. For more information, please visit www.globalbloodtx.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, including statements about our ability to accelerate the drug discovery and process under this collaboration, the timing of the announcement of the results of clinical trials for our proprietary and our partnered programs, the timing of the completion or initiation of further development of our wholly-owned and our partnered programs, expectations that events will occur that will result in greater value for the Company, the potential for the results of ongoing preclinical and clinical trials to support regulatory approval or the marketing success of a drug candidate, our ability to partner our proprietary drug candidates for up-front fees, milestone and/or royalty payments, our future plans to progress and develop our proprietary programs and the plans of our collaborators to progress and develop programs we have licensed to them, and our plans to build a late-stage development company. These statements involve significant risks and uncertainties, including those discussed in our most recent annual report filed on Form 10-K, in our quarterly reports filed on Form 10-Q, 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 continue to fund and successfully progress internal research and development efforts and to create effective, commercially viable drugs; risks associated with our dependence on our collaborators for the clinical development and commercialization of our out-licensed drug candidates; the ability of our collaborators and of Array BioPharma Inc. to meet objectives tied to milestones and royalties; our ability to effectively and timely conduct clinical trials in light of increasing costs and difficulties in locating appropriate trial sites and in enrolling patients who meet the criteria for certain clinical trials; risks associated with our dependence on third-party service providers to successfully conduct clinical trials within and outside the United States; our ability to achieve and maintain profitability and maintain sufficient cash resources; the extent to which the pharmaceutical and biotechnology industries are willing to in-license drug candidates for their product pipelines and to collaborate with and fund third parties on their drug discovery activities; our ability to out-license our proprietary candidates on favorable terms; and our ability to attract and retain experienced scientists and management. We are providing this information as of March 5, 2013. 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.
Tricia Haugeto, Array BioPharma Inc.
(303) 386-1193 or email@example.com
Kristie Wallis, Pure Communications (Global Blood Therapeutics)
SOURCE Array BioPharma Inc.