Array BioPharma (Array) and Amgen have entered into an agreement. The deal grants Amgen exclusive worldwide rights to Array’s small-molecule glucokinase activator program, including ARRY-403, currently being tested in a phase 1 clinical trial in patients with type 2 diabetes.
As per the terms of the agreement, Array is expected to receive an upfront payment of $60m and additional contingent payments for certain clinical and commercial milestones. Array is responsible for completing the phase 1 trial for ARRY-403.
In addition, Amgen is responsible for future clinical development and commercialisation for ARRY-403 and any resulting back-up compounds, with Array having an option to co-promote in the US. Array will receive double digit royalties on sales of ARRY-403.
Furthermore, Amgen will fund an agreed upon number of full time Array employees as part of a two-year research collaboration intended to identify and advance second-generation glucokinase activators.
Roger Perlmutter, executive vice president of research and development at Amgen, said: “We are pleased to be collaborating with Array BioPharma in this arena, and are excited about the potential of this glucokinase activator. Type 2 diabetes has long been an important focus of research for Amgen, and the addition of ARRY-403 clearly strengthens our diabetes pipeline.”
Robert Conway, CEO of Array, said: “The glucokinase activator ARRY-403 is a member of a new class of drugs targeting Type 2 diabetes, and we’re delighted to partner with Amgen to develop and commercialise this novel therapy for diabetic patients.”