Array BioPharma Announces Drug Discovery Collaboration With Ono Pharmaceutical
News Nov 04, 2005
Array BioPharma Inc. has announced the commencement of drug discovery collaboration with Ono Pharmaceutical Co., Ltd. to create small molecule drug candidates against a series of kinases selected by Ono.
“We dedicate ourselves on creating innovative medicines,” said Kigen Kondo, Ph.D., Executive Director of Research Headquarters, Ono.
“We are very much pleased about this collaborative arrangement with Array, a pharmaceutical company with excellent state-of-the-art technologies, to create drug candidates modulating our selected new targets.”
Ono will provide funding to access Array's Drug Discovery Platform. Array will be entitled to receive milestone payments based on the selection and progression of clinical drug candidates.
In addition Array will be entitled to receive royalties on sales of any products that may result from the collaboration.
Ono will have the sole responsibility for clinical development and commercialization of any resulting products.
“We are delighted to be initiating this multi-year collaboration with Ono,” said Kevin Koch, Ph.D., President and Chief Scientific Officer, Array.
“We view Ono's interest in partnering with Array as further validation of our ability to create high quality clinical candidates.”