Array BioPharma Receives $14 Million From Longmont Facilities Transaction

    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.

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