Array BioPharma Announces Oncology Collaboration With Genentech

Jan 05, 2004, 00:00 ET from Array BioPharma

    BOULDER, Colo., Jan. 5 /PRNewswire-FirstCall/ -- Array BioPharma
 (Nasdaq:   ARRY) today announced a licensing and collaboration agreement with
 Genentech, Inc. (NYSE:   DNA) for multiple targets in the field of oncology.  As
 part of this agreement, Array and Genentech will form a research collaboration
 to advance two of Array's proprietary oncology programs into clinical
 development.  These programs include small molecule leads developed by Array
 along with additional Array intellectual property involving Array's drug
 discovery platform.
     Under the agreement, Array will receive an upfront payment and research
 funding, with the potential to also receive development milestones and
 royalties on resulting product sales.
     "We are delighted to collaborate with Genentech, a clear leader in the
 field of oncology," said Robert E. Conway, Chief Executive Officer, Array
 BioPharma.  "This collaboration leverages Array's proprietary small molecule
 drug discovery expertise with Genentech's cancer expertise, with the goal of
 creating products to address one the world's largest unmet medical needs and
 market opportunities."
     "Array has a proven drug discovery capability that has created a number of
 exciting early stage programs around multiple oncology targets.  We plan to
 work with Array to maximize their potential," said Marc Tessier-Lavigne Ph.D.,
 Senior Vice President, Research Drug Discovery, Genentech.  "We believe this
 collaboration with Array complements our existing oncology portfolio and
 further strengthens our position as a leader in cancer research."
     Details of the Transaction
     Under the terms of this agreement, Genentech and Array will collaborate on
 the discovery of clinical candidates directed against two cancer targets.
 Genentech will have the sole responsibility for clinical development and
 commercialization of the resulting products.  Genentech has reserved the right
 to add additional programs to this collaboration.
     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 many promising small molecule drugs that affect disease
 pathways with well-validated targets.  Array also collaborates with leading
 pharmaceutical and biotechnology companies to invent and optimize drug
 candidates across a broad range of therapeutic areas.  For more information on
 Array, please go to .
     Founded in 1998, Array BioPharma is headquartered in Boulder, Colorado and
 employs over 250, including 184 scientists.  Additional companies utilizing
 Array's drug discovery expertise include AstraZeneca, InterMune, Eli Lilly,
 GenPath, Roche and Takeda.
     Array 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 annual
 report filed on Form 10-K for the fiscal year ended June 30, 2003, 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 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 January 5, 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