Array BioPharma, Pierre Fabre to collaborate on novel melanoma, ovarian cancer drugs

Array BioPhama and Pierre Fabre announced they will collaborate to develop and commercialize binimetinib and encorafenib, Array’s late-stage novel oncology products, according to a press release.

Binimetinib, a small molecule MEK inhibitor, and encorafenib, a small molecule BRAF inhibitor, are in phase 3 trials for melanoma and ovarian cancer, according to the release. Results from NEMO, a phase 3 study of binimetinib in patients with NRAS-mutant melanoma, are expected prior to the end of 2015.

Array will receive an upfront payment of $30 million and will retain exclusive commercialization rights for the products in the United States, Canada, Japan, Korea and Israel. Commercialization rights in other countries, including those in Europe, Asia and Latin America, will belong to Pierre Fabre, according to the release. If certain development and commercialization milestones are reached, Array is entitled to receive up to $425 million, the release reported.

Future development costs will be split 60:40 (Array: Pierre Fabre), with initial funding directed to new clinical trials in melanoma and colorectal cancer. Ongoing binimetinib and encorafenib trials will remain funded through completion by Novartis, according to the release.

“In Pierre Fabre, we selected a partner with a European and emerging market focus on oncology to develop and commercialize binimetinib and encorafenib in these geographies,” Ron Squarer, CEO, Array BioPharma, stated in the release. “With phase 3 trials approaching data readouts, and over 30 additional phase 1/2 trials under way, we are confident that binimetinib and encorafenib are well positioned for near-term regulatory submissions and significant commercial value.”

Reference: www.arraybiopharma.com