BOULDER, Colo., Aug. 10 /PRNewswire-FirstCall/ -- Array BioPharma Inc.
(Nasdaq: ARRY) today announced that it has received $14 million upon
completion of previously announced facilities transactions involving Array,
its Longmont landlord and BioMed Realty Trust, Inc. (NYSE: BMR), a real
estate investment trust, under which Array assigned its right to purchase
the Longmont facility to BioMed. On August 9, 2006, BioMed concluded the
purchase of the Longmont facility and Array entered into a lease for the
facility with BioMed through 2016. Array previously received $18 million
through completing a similar transaction with BioMed for its Boulder
facility in July 2006. In total, Array received $32 million in net
additional cash from these transactions.
Array will keep its headquarters in Boulder and continue operating its
228,000 square foot research facilities in Boulder and Longmont, Colorado.
About Array BioPharma:
Array BioPharma Inc. is a biopharmaceutical company focused on the
discovery, development and commercialization of targeted small molecule
drugs to treat life threatening and debilitating diseases. Our proprietary
drug development pipeline is focused on the treatment of cancer and
inflammatory disease and includes clinical candidates that are designed to
regulate therapeutically important targets. In addition, leading
pharmaceutical and biotechnology companies partner with Array to discover
and develop drug candidates across a broad range of therapeutic areas. For
more information on Array, please go to www.arraybiopharma.com.
About BioMed Realty Trust:
BioMed Realty Trust, Inc. is a real estate investment trust (REIT)
focused on Providing Real Estate to the Life Science Industry. Additional
information is available at www.biomedrealty.com.
SOURCE Array BioPharma Inc.