Start-up Loxo Oncology in deal with Array BioPharma

11 July 2013

Loxo Oncology, a biopharmaceutical company established and funded by Aisling Capital in May this year, and Array BioPharma (Nasdaq: ARRY) have entered a multi-year license and collaboration agreement for an Array-invented preclinical development candidate and related intellectual property. In addition, Loxo and Array will collaborate to discover and develop small molecule drugs for mutually agreed upon novel oncology targets.

The licensed program targets a specified novel oncogenic activating mutation. This program and collaboration benefit from recent advances in understanding the cancer genome. For novel, driver oncogenes, it is possible to accelerate both preclinical and clinical development of compounds in well-defined target populations. To date, this approach has generated robust response rates in Phase 1 and 2 trials, which in turn has enabled rapid clinical development and commercialization.

Array eligible for $434 million in milestones

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