Array, Pierre Fabre Partner to Develop Cancer Therapies
Array BioPharma has inked a deal with French drugmaker Pierre Fabre to develop and commercialize two cancer therapies.
Under the terms of the deal, Pierre Fabre will receive commercial rights to two oncology compounds in Europe, Asia and South America, Array disclosed during an investor call last week.
In exchange, Array gets $30 million up front, royalties on sales in Pierre Fabre’s territories and up to $425 million in milestone payments.
Array retains commercial rights to North America, Japan, Korea and Israel, while maintaining all manufacturing rights.
The deal still requires regulatory approval from the European Commission.
According to Array CEO Ron Squarer, the two investigational drugs — MEK inhibitor binimetinib and BRAF inhibitor encorafenib — are the basis for three studies for melanoma and ovarian cancer, all of which are nearing the end of Phase 3 trials. He noted that one of the trials is expected to conclude before year’s end, while the others are expected to end within the first half of 2016.
“If these [trials] are successful, they will support multiple regulatory submissions during 2016,” Squarer told investors on the call.
Array acquired the two investigational drugs earlier this year after the Federal Trade Commission forced Novartis to sell them so that it could pursue two drugs under development by GlaxoSmithKline.