Multi-million oncology deal for Array and Pierre Fabre
US biotech firm Array BioPharma (Nasdaq: ARRY) and privately-held French drugmaker Pierre Fabre today announced a collaboration to globally develop and commercialize Array's late-stage novel oncology products, binimetinib and encorafenib.
Binimetinib, a MEK inhibitor, and encorafenib, a BRAF inhibitor, are currently advancing in three, global Phase III trials for melanoma and ovarian cancer. Top-line results from NEMO, a Phase III study of binimetinib in patients with NRAS-mutant melanoma, are anticipated before the end of 2015. Array early this year regained rights to bother compounds from Swiss pharma giant Novartis (NOVN: VX) as a result of the latter’s acquisition of oncology assets from GlaxoSmithKline (The Pharma Letter January 23).
Under the terms of the agreement, Array will receive an upfront payment of $30 million and retains exclusive commercialization rights for binimetinib and encorafenib in the USA, Canada, Japan, Korea and Israel. Pierre Fabre will have exclusive rights to commercialize both products in all other countries, including Europe, Asia and Latin America.
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