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news.Array BioPharma has got $10m clinical research milestone under its its collaboration with Celgene Corporation executed in September 2007.
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Array anticipates initiating a Phase 1 dose escalation trial in cancer patients with ARRY-382, a small molecule cFMS inhibitor, during the first quarter of 2011.
Under the agreement, Array is responsible for the continued development of ARRY-382 through Phase 1, and Celgene has an option to obtain exclusive rights to ARRY-382.
If Celgene exercises this option, Celgene would be responsible for additional development and commercialisation of this drug, and Array would be entitled to receive additional milestones, as well as royalties on sales of the drug.
As per the terms of the collaboration, Celgene has the option to select a total of two programs.
Celgene Research and Early Development president Tom Daniel said that their partnership with Array reflects the important role the cFMS pathway plays in cancer.
"Array has expeditiously delivered this promising new agent to IND and we look forward to evaluating its activity in cancer patients as we continue our ongoing collaboration on additional targets," Daniel said.