Array has a consistent track record of successful drug discovery with extensive capabilities in high throughput lead identification, protein-structure-enabled drug design, and diverse chemistry approaches such as competitive, allosteric and covalent target inhibition. Array has invented 16 drugs which are in clinical development, including 11 currently in Phase 2 or 3 trials. Beyond its wholly-owned hematology/oncology programs, Array has partnered development of Array-invented drugs with companies including Amgen, Astra Zeneca, Celgene, Genentech, Novartis and Oncothyreon.
"We are delighted to enter into this collaboration with the goal of rapidly bringing this exciting technology to cancer patients," said Ron Squarer, chief executive officer, Array BioPharma. "Array has partnered with a number of venture-backed companies which continue to produce encouraging results; the venture-financed model of drug discovery and development can cost-effectively identify novel candidates and rapidly test the clinical hypothesis."
As part of the formation of Loxo Oncology, Keith Flaherty, MD, the director of the Henri and Belinda Termeer Center for Targeted Therapies at Massachusetts General Hospital, will chair the company's Scientific Advisory Board. "Having collaborated with small and large companies, I consider Loxo to be ideally constructed to rapidly translate emerging validated targets into therapies.
This collaboration provides a unique opportunity to work with Array chemists and biologists to direct novel agents targeting critical points of signal transduction in cancer to biomarker-defined cancer populations for whom a significant unmet need persists."
SOURCE Array BioPharma
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