With every passing month, Array BioPharma
Array gets $40 million in up-front cash, while Celgene gets the option to pick up the rights to as many as two compounds from four mutually agreed-upon therapeutic areas. Array will handle all of the drugs' development through phase 1 or phase 2a testing. In return, it's eligible for as much as $200 million in regulatory and development milestones on each of the drugs, if Celgene chooses to continue with them. Celgene gets worldwide marketing rights to these compounds, with a co-promote option for Array in the U.S. If the drugs make it to market, Array could get even more milestone and royalty payments -- a sweet deal indeed.
Like a handful of other tiny biopharmas, including Exelixis and Pharmacopeia
Impressively, Array isn't relying on any one drug for success. It has multiple shots on goal in its pipeline, covering a range of intriguing drug targets and different indications. For example, it gets a slice of InterMune's