Array licenses two cancer compounds to Pierre Fabre

Array BioPharma Inc. (NASDAQ:ARRY) granted Laboratoires Pierre Fabre S.A. (Castres, France) exclusive rights to binimetinib ( MEK162) and encorafenib ( LGX818) in Europe, Latin America and most Asian territories. Both candidates are in Phase III testing to treat melanoma.

Array received $30 million up front and is eligible for $425 million in milestones, plus double-digit royalties. Array and Pierre Fabre will split future development costs 60/40. Array retains rights to the candidates in the U.S., Canada, Japan, Korea and Israel. ...