Europe’s antitrust commission has OK’d Array BioPharma’s cancer drug development and commercialization agreement with Pierre Fabre, companies announced Monday.
Under , Pierre Fabre will gain the commercial rights to Array’s binimetinib and encorafenib in all countries except for the United States, Canada, Japan, Korea and Israel, where Array will retain its ownership rights.
Pierre Fabre will pay Array $30 million up-front in the deal that could be valued up to $425 million, if certain milestones are met.
Pierre Fabre also will contribute a 40 percent share of development costs related to new clinical trials in colorectal cancer and melanoma, officials said.
Binimetinib and encorafenib target proteins in cancers such as non-small cell lung cancer, melanoma, ovarian, colorectal and thyroid.
Last week, Array (Nasdaq: ARRY) reported that for how the drug performed in patients with NRAS-mutant melanoma.
Alicia Wallace: 303-954-1939, awallace@denverpost.com or @aliciawallace
