Array and Bristol-Myers in new combination therapy collaboration
A new research collaboration in colorectal cancer has been agreed between Colorado-based Array BioPharma (Nasdaq: ARRY) and Bristol-Myers Squibb (NYSE: BMY).
The companies will investigate a potential combination therapy using Array’s investigational MEK inhibitor, binimetinib, with Opdivo (nivolumab) and with Opdivo and Yervoy (ipilimumab).
Under the terms of the agreement, Array and Bristol-Myers will jointly support the study, with Array acting as the sponsor. Shares in Array spiked briefly in New York this morning before settling back down to $8.15.
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