A Boulder biotech said it's made a deal with an industry giant to develop drugs for autoimmune disorders.
Array BioPharma Inc. (Nasdaq: ARRY) said it's made a deal with giant Amgen Inc. (Nasdaq: AMGN) of Thousand Oaks, California to take advantage of Array's inflammatory disease discoveries.
"The identification of this novel target, along with our team's deep experience in kinase inhibitor chemistry, gives us confidence that our efforts will result in a drug which will address a significant unmet medical need for patients with inflammatory disease," said Nicholas Saccomano, chief scientific officer at Array, in a statement.
The deal will allow the two companies to collaborate on developing the drug, and Amgen will be responsible for the drug's commercialization. "In exchange for exclusive rights to Array's preclinical program, Amgen will make upfront and milestone payments, as well as pay royalties on sales of resulting therapies," the companies said.
Read more at the Denver Business Journal: http://bizj.us/1p8w9e
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