Array BioPharma signs expanded research pact with Genentech

Array BioPharma of Boulder, CO, has agreed to expand a research collaboration with biotech giant Genentech in a deal that could bring $50 million in new funding over the next three years. The two drug developers linked up in 2004 to advance two of Array's cancer candidates into clinical trials. Genentech is responsible for the trials and the cost of commercialization in the deal.

"We believe our collaboration with Genentech further validates Array's leadership position in cancer research," said Robert E. Conway, CEO of Array BioPharma. "This collaboration leverages Array's proprietary small molecule drug discovery expertise with Genentech's cancer expertise, with the goal of creating products to address one of the world's largest unmet medical needs and market opportunities."

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