ARRY-380 - New oncology collaboration with Oncothyreon Inc.
In May 2013, Array and Oncothyreon announced a collaboration to develop and commercialize ARRY-380, an orally active, reversible and selective small-molecule HER2 inhibitor. Oncothyreon paid Array an upfront fee of $10 million upon initiation of the collaboration. Under the agreement, Oncothyreon is funding the clinical development of ARRY-380 through a defined set of combination proof-of-concept trials in patients with metastatic breast cancer, including patients with brain metastases. Array and Oncothyreon intend to jointly conduct Phase 3 development supported by the proof-of-concept studies. Array is responsible for worldwide commercialization of the product. Oncothyreon has a co-promotion right in the U.S., and the two companies will share the cost of U.S. commercialization, including any profit, equally. Outside of the U.S., Oncothyreon will receive a double-digit royalty on net sales.