Monday, August 8, 2011

Genentech to pay $28M in cancer drug deal with Array

Genentech will pay $28 million next month as a downpayment for Array BioPharma to develop two cancer drugs designed to disrupt a tumor cell’s natural repair mechanism.
The deal centers on an oral drug developed by Boulder, Colo.-based Array to inhibit Checkpoint kinase 1, or ChK-1, but also includes a Phase I oral drug from South San Francisco-based Genentech, GDC-0425.

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